Futu (NASDAQ:FUTU) Shares Gap Down – Here’s What Happened

Futu Holdings Limited (NASDAQ:FUTU) gapped down before the market opened on Tuesday . The stock had previously closed at $106.35, but opened at $100.98. Futu shares last traded at $100.31, with a volume of 1,966,605 shares changing hands.

Wall Street Analyst Weigh In

Separately, Bank of America increased their target price on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.97.

Futu Stock Down 1.0 %

The company has a market cap of $13.12 billion, a PE ratio of 25.20, a P/E/G ratio of 1.65 and a beta of 0.74. The stock has a 50-day moving average of $75.25 and a 200-day moving average of $69.56.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The company had revenue of $400.73 million for the quarter. Research analysts expect that Futu Holdings Limited will post 4.28 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its stake in Futu by 3.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock valued at $394,000 after acquiring an additional 230 shares during the last quarter. Signaturefd LLC grew its stake in shares of Futu by 8.4% during the second quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock valued at $210,000 after buying an additional 247 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Futu by 6.5% during the first quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock valued at $238,000 after buying an additional 269 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Futu by 8.6% during the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock valued at $206,000 after buying an additional 300 shares during the last quarter. Finally, CWM LLC grew 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 buying an additional 300 shares during the last quarter.

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.