Futu Holdings Limited (NASDAQ:FUTU) Short Interest Update

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in Futu by 236.6% in the fourth quarter. SG Americas Securities LLC now owns 374,193 shares of the company’s stock worth $29,932,000 after acquiring an additional 263,040 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Futu in the 4th quarter worth approximately $457,000. Harbour Capital Advisors LLC grew its position in Futu by 101.5% during the 4th quarter. Harbour Capital Advisors LLC now owns 7,495 shares of the company’s stock worth $604,000 after purchasing an additional 3,775 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock worth $62,000 after buying an additional 184 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of Futu by 135.3% during the third quarter. Tidal Investments LLC now owns 9,517 shares of the company’s stock valued at $910,000 after buying an additional 5,472 shares during the last quarter.

Futu Price Performance

Futu stock traded up $7.13 during trading hours on Monday, reaching $87.53. The stock had a trading volume of 5,329,866 shares, compared to its average volume of 1,312,648. The company has a market cap of $12.06 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 0.60 and a beta of 0.75. The business’s 50 day moving average price is $84.83 and its 200-day moving average price is $78.88. Futu has a 52 week low of $43.61 and a 52 week high of $130.50.

Futu Dividend Announcement

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

Analysts Set New Price Targets

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