Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Sees Large Increase in Short Interest

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) was the target of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 7,117,889 shares, a growth of 65.4% from the May 14th total of 4,304,354 shares. Based on an average trading volume of 12,096,438 shares, the days-to-cover ratio is currently 0.6 days. Currently, 7.8% of the shares of the company are sold short.

Hedge Funds Weigh In On Futu

Institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Futu during the first quarter worth about $25,000. Rockefeller Capital Management L.P. grew its position in shares of Futu by 59.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock worth $37,000 after acquiring an additional 84 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Futu during the first quarter worth about $27,000. Quarry LP bought a new position in shares of Futu during the third quarter worth about $51,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Futu during the fourth quarter worth about $49,000.

Futu Price Performance

FUTU stock opened at $100.12 on Tuesday. Futu has a 1-year low of $80.50 and a 1-year high of $202.53. The firm has a fifty day moving average price of $132.17 and a two-hundred day moving average price of $149.38. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.14 and a beta of 0.40.

Futu (NASDAQ:FUTU) last released its earnings results on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($2.12). Futu had a net margin of 41.87% and a return on equity of 26.48%. The business had revenue of $694.17 million for the quarter, compared to the consensus estimate of $761.35 million. As a group, analysts expect that Futu will post 8.95 EPS for the current fiscal year.

Futu Announces Dividend

The company also recently declared a special dividend, which was paid on Wednesday, April 29th. Stockholders of record on Thursday, April 16th were given a dividend of $2.60 per share. The ex-dividend date was Thursday, April 16th. Futu’s dividend payout ratio is currently 28.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $170.50 price target on shares of Futu in a report on Thursday, May 28th. Wall Street Zen lowered shares of Futu from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Barclays lowered their target price on shares of Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $87.00 target price (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group lowered shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price for the company. in a research note on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Futu has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Futu Company Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.