Traders Buy High Volume of Futu Call Options (NASDAQ:FUTU)

Futu Holdings Limited (NASDAQ:FUTU) was the target of some unusual options trading on Thursday. Stock traders bought 13,534 call options on the company. This is an increase of approximately 73% compared to the typical volume of 7,810 call options.

Institutional Investors Weigh In On Futu

Hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale lifted its holdings in shares of Futu by 3.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock valued at $394,000 after purchasing an additional 230 shares during the last quarter. Signaturefd LLC grew its stake in shares of Futu by 8.4% in the second quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock worth $210,000 after acquiring an additional 247 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings 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 acquiring an additional 269 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Futu by 8.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $206,000 after purchasing an additional 300 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Futu by 3.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,123 shares of the company’s stock worth $602,000 after purchasing an additional 343 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FUTU shares. Bank of America lifted their price objective on Futu from $77.60 to $80.20 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded shares of Futu from a “neutral” rating to an “overweight” rating and lifted their price target 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.57.

Futu Stock Down 3.4 %

NASDAQ FUTU opened at $65.53 on Friday. The firm has a market capitalization of $9.03 billion, a PE ratio of 17.34, a P/E/G ratio of 0.92 and a beta of 0.72. The stock’s 50 day moving average is $60.93 and its 200 day moving average is $63.91. Futu has a twelve month low of $43.61 and a twelve month high of $81.86.

Futu (NASDAQ:FUTU) last announced its earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The firm had revenue of $400.73 million for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. On average, research analysts anticipate that Futu will post 4.51 earnings per share for the current 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.