Futu (NASDAQ:FUTU) Stock Price Up 6% – Should You Buy?

Futu Holdings Limited (NASDAQ:FUTU) shares rose 6% on Thursday . The company traded as high as $113.50 and last traded at $113.95. Approximately 784,103 shares changed hands during trading, a decline of 69% from the average daily volume of 2,541,521 shares. The stock had previously closed at $107.51.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, March 14th. UBS Group raised their price target on shares of Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Futu currently has an average rating of “Moderate Buy” and an average target price of $121.20.

Futu Stock Performance

The firm has a market cap of $15.32 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 0.79 and a beta of 0.78. The business’s 50-day moving average is $106.62 and its 200-day moving average is $93.99.

Institutional Investors Weigh In On Futu

A number of large investors have recently bought and sold shares of the business. Aspex Management HK Ltd lifted its position in Futu by 2.4% during the 3rd quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock worth $435,497,000 after buying an additional 108,219 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Futu in the fourth quarter valued at about $116,315,000. Hhlr Advisors LTD. grew its stake in Futu by 6.4% in the fourth quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company’s stock valued at $89,453,000 after purchasing an additional 67,214 shares in the last quarter. Point72 Hong Kong Ltd grew its position in shares of Futu by 170.6% in the 4th quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company’s stock valued at $66,459,000 after acquiring an additional 523,808 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Futu by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 567,635 shares of the company’s stock worth $44,890,000 after purchasing an additional 21,686 shares during the last quarter.

About Futu

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.