Futu Sees Unusually Large Options Volume (NASDAQ:FUTU)

Futu Holdings Limited (NASDAQ:FUTU) saw unusually large options trading activity on Thursday. Stock traders acquired 13,534 call options on the stock. This is an increase of approximately 73% compared to the average volume of 7,810 call options.

Futu Stock Up 13.9 %

FUTU opened at $67.81 on Friday. Futu has a twelve month low of $43.61 and a twelve month high of $81.86. The company has a market cap of $9.34 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 0.92 and a beta of 0.72. The company has a 50-day moving average price of $61.01 and a 200 day moving average price of $63.82.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. The company had revenue of $400.73 million during the quarter. As a group, sell-side analysts expect that Futu will post 4.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FUTU. Marshall Wace LLP increased its position in shares of Futu by 71.5% during the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock valued at $99,813,000 after acquiring an additional 634,369 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in Futu during the second quarter worth approximately $31,490,000. National Bank of Canada FI boosted its holdings in shares of Futu by 3,253,333.3% in the 2nd quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock valued at $18,790,000 after buying an additional 292,800 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Futu by 1,159.9% in the second quarter. Renaissance Technologies LLC now owns 292,300 shares of the company’s stock valued at $19,176,000 after acquiring an additional 269,100 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Futu by 5,492.5% during the 2nd quarter. Acadian Asset Management LLC now owns 265,869 shares of the company’s stock worth $17,419,000 after buying an additional 261,115 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. raised Futu from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $62.00 to $92.00 in a research report on Tuesday, May 28th. Bank of America upped their target price on Futu from $77.60 to $80.20 and gave the company a “buy” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.57.

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.