Futu Sees Unusually Large Options Volume (NASDAQ:FUTU)

Futu Holdings Limited (NASDAQ:FUTU) was the recipient of unusually large options trading on Wednesday. Stock traders bought 13,248 call options on the company. This represents an increase of approximately 65% compared to the typical daily volume of 8,013 call options.

Institutional Trading of Futu

A number of hedge funds have recently bought and sold shares of FUTU. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Futu by 0.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 124,898 shares of the company’s stock worth $6,823,000 after acquiring an additional 763 shares during the period. Harvest Fund Management Co. Ltd lifted its position in Futu by 689.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 42,370 shares of the company’s stock worth $2,309,000 after purchasing an additional 37,000 shares during the period. Syon Capital LLC acquired a new stake in Futu during the fourth quarter worth $238,000. State of New Jersey Common Pension Fund D increased its holdings in Futu by 20.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 55,700 shares of the company’s stock valued at $3,043,000 after buying an additional 9,400 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Futu in the 4th quarter valued at $44,000.

Analyst Upgrades and Downgrades

FUTU has been the topic of several analyst reports. Bank of America increased their price target on shares of Futu from $77.60 to $80.20 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. upgraded Futu from a “neutral” rating to an “overweight” rating and raised their target price for the company from $62.00 to $92.00 in a report on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.57.

Futu Price Performance

NASDAQ:FUTU traded up $3.05 during midday trading on Wednesday, reaching $62.76. The stock had a trading volume of 851,054 shares, compared to its average volume of 1,448,307. The stock has a market capitalization of $9.44 billion, a P/E ratio of 16.60, a PEG ratio of 0.93 and a beta of 0.74. Futu has a 1-year low of $43.61 and a 1-year high of $81.86. The firm’s fifty day simple moving average is $64.32 and its 200-day simple moving average is $62.45.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Tuesday, May 28th. The company reported $0.95 EPS for the quarter. The business had revenue of $331.27 million for the quarter. Futu had a return on equity of 17.16% and a net margin of 40.86%. During the same quarter in the previous year, the firm posted $1.08 earnings per share. On average, equities research analysts anticipate that Futu will post 4.59 earnings per share for the current fiscal year.

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.