Futu Sees Unusually High Options Volume (NASDAQ:FUTU)

Futu Holdings Limited (NASDAQ:FUTU) saw some unusual options trading on Friday. Stock investors acquired 14,636 call options on the company. This is an increase of approximately 59% compared to the typical daily volume of 9,189 call options.

Hedge Funds Weigh In On Futu

A number of institutional investors have recently bought and sold shares of the business. UniSuper Management Pty Ltd grew its holdings in Futu by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $43,000 after acquiring an additional 400 shares during the period. Headlands Technologies LLC acquired a new position in shares of Futu in the 4th quarter valued at $44,000. Advisors Preferred LLC purchased a new stake in Futu during the fourth quarter worth $53,000. Newbridge Financial Services Group Inc. acquired a new stake in Futu during the first quarter valued at $65,000. Finally, Barometer Capital Management Inc. purchased a new position in Futu in the fourth quarter valued at $120,000.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FUTU shares. JPMorgan Chase & Co. upgraded shares of Futu from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $62.00 to $92.00 in a report on Tuesday, May 28th. Citigroup lowered their target price on shares of Futu from $76.90 to $75.30 and set a “buy” rating for the company in a research note on Friday, March 15th. CLSA raised Futu from an “underperform” rating to an “outperform” rating and upped their price target for the stock from $50.00 to $65.00 in a research report on Monday, March 18th. Finally, Bank of America increased their price objective on Futu from $81.00 to $85.80 and gave the company a “buy” rating in a report on Wednesday, May 29th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.37.

Futu Trading Up 1.3 %

Shares of NASDAQ:FUTU traded up $0.86 on Friday, hitting $69.65. 1,606,705 shares of the company were exchanged, compared to its average volume of 1,538,820. The stock’s 50 day moving average price is $71.53 and its 200 day moving average price is $59.36. Futu has a 1-year low of $39.42 and a 1-year high of $81.86.

Futu (NASDAQ:FUTU) last posted its quarterly earnings results on Tuesday, May 28th. The company reported $0.95 earnings per share for the quarter. The business had revenue of $331.27 million for the quarter. Futu had a return on equity of 17.16% and a net margin of 40.86%. During the same quarter in the previous year, the firm posted $1.08 EPS. On average, equities research analysts anticipate that Futu will post 4.68 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.