Futu Holdings Limited (NASDAQ:FUTU) Short Interest Down 9.9% in December

Futu Holdings Limited (NASDAQ:FUTU) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 4,460,000 shares, a drop of 9.9% from the November 30th total of 4,950,000 shares. Based on an average daily trading volume, of 4,920,000 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of Futu

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Futu in the 2nd quarter worth about $50,000. GAMMA Investing LLC boosted its position in Futu by 181.5% in the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after buying an additional 383 shares in the last quarter. CWM LLC grew its stake in Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after buying an additional 300 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Futu during the third quarter worth approximately $92,000. Finally, Janus Henderson Group PLC bought a new position in shares of Futu in the third quarter valued at approximately $201,000.

Futu Stock Down 0.7 %

Futu stock traded down $0.53 during trading hours on Wednesday, hitting $79.99. The stock had a trading volume of 1,467,022 shares, compared to its average volume of 2,332,589. Futu has a fifty-two week low of $43.61 and a fifty-two week high of $130.50. The company has a 50-day moving average of $89.13 and a two-hundred day moving average of $77.77. The company has a market cap of $11.02 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72.

Futu Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 6th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, December 6th.

Wall Street Analysts Forecast Growth

FUTU has been the topic of a number of recent analyst reports. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. Finally, Bank of America increased their price objective on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Futu has an average rating of “Moderate Buy” and a consensus price target of $87.33.

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.