Futu (NASDAQ:FUTU) Shares Gap Down – Time to Sell?

Futu Holdings Limited (NASDAQ:FUTU)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $114.70, but opened at $110.40. Futu shares last traded at $110.29, with a volume of 733,425 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FUTU shares. JPMorgan Chase & Co. boosted their target price on Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. UBS Group boosted their price objective on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.20.

Futu Stock Performance

The firm has a market capitalization of $14.97 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The company’s fifty day moving average price is $103.56 and its two-hundred day moving average price is $92.34.

Hedge Funds Weigh In On Futu

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System lifted its stake in Futu by 1.1% during the fourth quarter. California State Teachers Retirement System now owns 62,267 shares of the company’s stock worth $4,981,000 after purchasing an additional 692 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in Futu in the 4th quarter worth about $969,000. Siemens Fonds Invest GmbH bought a new position in Futu in the 4th quarter worth about $301,000. Mackenzie Financial Corp increased its stake in shares of Futu by 2.0% in the fourth quarter. Mackenzie Financial Corp now owns 4,475 shares of the company’s stock valued at $358,000 after purchasing an additional 87 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Futu during the fourth quarter valued at approximately $11,482,000.

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.