Short Interest in Futu Holdings Limited (NASDAQ:FUTU) Expands By 5.6%

Futu Holdings Limited (NASDAQ:FUTU) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 4,350,000 shares, a growth of 5.6% from the January 15th total of 4,120,000 shares. Based on an average daily trading volume, of 2,490,000 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

Several research firms recently commented on FUTU. Citigroup cut Futu from a “buy” rating to a “neutral” rating and increased their price objective for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. 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 research report on Monday, November 18th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Futu currently has an average rating of “Moderate Buy” and a consensus price target of $91.40.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $123.56 on Wednesday. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 0.77 and a beta of 0.76. The stock’s 50-day simple moving average is $90.93 and its two-hundred day simple moving average is $84.77. Futu has a 52-week low of $49.17 and a 52-week high of $130.50.

Futu Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Valliance Asset Management Ltd purchased a new position in shares of Futu during the 3rd quarter valued at about $956,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Futu by 14.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock valued at $11,245,000 after buying an additional 15,127 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Futu by 136.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company’s stock valued at $4,032,000 after buying an additional 24,355 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Futu by 127.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company’s stock valued at $5,024,000 after buying an additional 29,401 shares in the last quarter. Finally, Natixis Advisors LLC purchased a new position in shares of Futu during the 3rd quarter valued at about $1,100,000.

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.