Futu Holdings Limited (NASDAQ:FUTU) Short Interest Down 6.7% in December

Futu Holdings Limited (NASDAQ:FUTU) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 4,160,000 shares, a decrease of 6.7% from the December 15th total of 4,460,000 shares. Based on an average daily trading volume, of 3,240,000 shares, the short-interest ratio is presently 1.3 days.

Futu Stock Up 8.9 %

NASDAQ:FUTU traded up $7.13 during midday trading on Friday, hitting $87.53. The stock had a trading volume of 5,329,866 shares, compared to its average volume of 1,312,648. The stock has a 50-day moving average of $84.83 and a 200 day moving average of $78.81. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 0.60 and a beta of 0.75. Futu has a one year low of $43.61 and a one year high of $130.50.

Futu Announces Dividend

The company also recently declared a — dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 6th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, December 6th.

Institutional Trading of Futu

Several institutional investors and hedge funds have recently made changes to their positions in FUTU. GAMMA Investing LLC increased its position in Futu by 181.5% during the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after purchasing an additional 383 shares during the period. CWM LLC boosted its stake in shares of Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after purchasing an additional 300 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Futu by 14.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock valued at $84,000 after buying an additional 112 shares during the period. Venturi Wealth Management LLC bought a new position in Futu in the third quarter worth approximately $92,000. Finally, Janus Henderson Group PLC purchased a new stake in Futu during the third quarter worth $201,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Finally, Bank of America upped their target price on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Futu has an average rating of “Moderate Buy” and an average price target of $91.40.

Futu Company Profile

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.