OneConnect Financial Technology (NYSE:OCFT) Shares Up 1.2% – Time to Buy?

OneConnect Financial Technology Co., Ltd. Sponsored ADR (NYSE:OCFTGet Free Report) shares rose 1.2% on Wednesday . The company traded as high as $7.18 and last traded at $7.10. Approximately 31,892 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 78,331 shares. The stock had previously closed at $7.01.

OneConnect Financial Technology Stock Up 1.2%

The company’s fifty day moving average price is $6.64 and its two-hundred day moving average price is $4.98. The company has a market cap of $276.70 million, a price-to-earnings ratio of -4.70 and a beta of 0.52.

OneConnect Financial Technology (NYSE:OCFTGet Free Report) last announced its earnings results on Wednesday, May 28th. The company reported ($0.15) earnings per share for the quarter. The company had revenue of $50.57 million during the quarter. OneConnect Financial Technology had a negative return on equity of 7.20% and a negative net margin of 20.95%.

Hedge Funds Weigh In On OneConnect Financial Technology

A number of large investors have recently bought and sold shares of OCFT. E Fund Management Co. Ltd. bought a new position in shares of OneConnect Financial Technology in the 1st quarter valued at about $179,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in OneConnect Financial Technology during the first quarter valued at approximately $179,000. Finally, OLD Mission Capital LLC bought a new position in OneConnect Financial Technology in the first quarter valued at approximately $376,000. Institutional investors and hedge funds own 4.05% of the company’s stock.

OneConnect Financial Technology Company Profile

(Get Free Report)

OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business.

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