Short Interest in Futu Holdings Limited (NASDAQ:FUTU) Declines By 6.7%

Futu Holdings Limited (NASDAQ:FUTU) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 4,160,000 shares, a decrease 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 Trading of Futu

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in shares of Futu by 236.6% during the 4th quarter. SG Americas Securities LLC now owns 374,193 shares of the company’s stock valued at $29,932,000 after buying an additional 263,040 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in Futu during the fourth quarter valued at $457,000. Harbour Capital Advisors LLC grew its position in shares of Futu by 101.5% in the fourth quarter. Harbour Capital Advisors LLC now owns 7,495 shares of the company’s stock valued at $604,000 after purchasing an additional 3,775 shares during the period. GAMMA Investing LLC increased 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 purchasing an additional 184 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Futu by 135.3% during the 3rd quarter. Tidal Investments LLC now owns 9,517 shares of the company’s stock worth $910,000 after purchasing an additional 5,472 shares during the last quarter.

Analyst Upgrades and Downgrades

FUTU has been the subject of several recent research reports. Bank of America raised their target price on shares of Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Citigroup cut Futu from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. Finally, Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $115.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $91.40.

Futu Stock Up 8.9 %

Shares of FUTU stock traded up $7.13 during mid-day trading on Monday, hitting $87.53. 5,329,866 shares of the stock were exchanged, compared to its average volume of 1,312,648. Futu has a 52-week low of $43.61 and a 52-week high of $130.50. The company has a market cap of $12.06 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 0.60 and a beta of 0.75. The firm has a fifty day moving average of $84.83 and a 200 day moving average of $78.88.

Futu Announces Dividend

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

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.