Futu (NASDAQ:FUTU) Downgraded to Neutral at JPMorgan Chase & Co.

Futu (NASDAQ:FUTUGet Rating) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

A number of other analysts have also recently commented on FUTU. Citigroup lowered their price target on Futu from $79.00 to $46.50 in a research report on Monday, March 14th. Bank of America raised Futu from an “underperform” rating to a “buy” rating in a research report on Friday, June 10th. TheStreet raised Futu from a “d+” rating to a “c” rating in a research report on Monday, March 14th. Finally, CLSA cut Futu from an “underperform” rating to a “sell” rating and set a $27.00 price objective for the company. in a report on Monday, June 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Futu currently has a consensus rating of “Hold” and an average price target of $82.46.

FUTU stock traded up $2.03 on Thursday, hitting $52.42. 168,601 shares of the company’s stock were exchanged, compared to its average volume of 4,383,834. Futu has a 12-month low of $21.23 and a 12-month high of $181.44. The firm has a 50 day moving average price of $36.47 and a two-hundred day moving average price of $35.13. The stock has a market cap of $7.88 billion, a P/E ratio of 28.18, a price-to-earnings-growth ratio of 0.95 and a beta of 0.82.

Futu (NASDAQ:FUTUGet Rating) last issued its quarterly earnings results on Monday, June 6th. The company reported $4.18 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.31. Futu had a return on equity of 10.59% and a net margin of 33.88%. During the same quarter in the previous year, the company posted $1.03 earnings per share. As a group, sell-side analysts forecast that Futu will post 2.28 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FUTU. Quadrant Capital Group LLC raised its holdings in Futu by 313.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,335 shares of the company’s stock worth $58,000 after purchasing an additional 1,012 shares during the period. Signaturefd LLC raised its holdings in Futu by 113.4% in the 4th quarter. Signaturefd LLC now owns 1,532 shares of the company’s stock worth $66,000 after purchasing an additional 814 shares during the period. Toronto Dominion Bank raised its holdings in Futu by 22.9% in the 1st quarter. Toronto Dominion Bank now owns 4,542 shares of the company’s stock worth $148,000 after purchasing an additional 847 shares during the period. Ground Swell Capital LLC purchased a new stake in Futu during the 1st quarter worth approximately $201,000. Finally, GSA Capital Partners LLP purchased a new stake in Futu during the 1st quarter worth approximately $208,000. 23.33% of the stock is owned by institutional investors.

Futu Company Profile (Get Rating)

Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program. It also offers online wealth management services under the brand of Futu Money Plus through its Futubull and moomoo platforms, which give access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas.

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