Saturday, June 25, 2022

A Guide To The Risks Of Investing In Futu Holdings Limited (FUTU)

BofA Securities upgraded its Futu Holdings Limited [FUTU] rating to a Buy from a an Underperform in a research note published on Tuesday. A number of analysts have revised their coverage, including CLSA’s analysts, who decreased its forecast for the stock in early June from “an Underperform” to “a Sell”. CLSA revised its rating on March 14, 2022. It rated FUTU as “an Underperform” which previously was an “an Outperform”.

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Price Performance Review of FUTU

On Tuesday, Futu Holdings Limited [NASDAQ:FUTU] saw its stock jump 15.70% to $51.58. On the same session, the stock had its day’s lowest price of $46.29, but rose to a high of $52.374. Over the last five days, the stock has gained 24.26%. Futu Holdings Limited shares have risen nearly 19.12% since the year began. Nevertheless, the stocks have fallen -65.17% over the past one year. While a 52-week high of $181.44 was reached on 06/21/22, a 52-week low of $21.23 was recorded on 03/14/22. SMA at 50 days reached $35.68, while 200 days put it at $49.91. A total of 8.76 million shares were traded, compared to the trading of 2.23 million shares in the previous session.

Levels Of Support And Resistance For FUTU Stock

The 24-hour chart illustrates a support level at 47.79, which if violated will result in even more drops to 44.00. On the upside, there is a resistance level at 53.87. A further resistance level may holdings at 56.17. The Relative Strength Index (RSI) on the 14-day chart is 70.43, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.91, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.65%. Stochastics %K at 79.93% indicates the stock is a holding.

How much short interest is there in Futu Holdings Limited?

A steep rise in short interest was recorded in Futu Holdings Limited stocks on Apr 28, 2022, dropping by -0.77 million shares to a total of 9.29 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 10.06 million shares. There was a decline of -8.29%, which implies that there is a negative sentiment for the stock.

Futu Holdings Limited [FUTU] – Who Are The Largest Shareholders?

In filings from Capital Research & Management Co, it is revealed that the company now owns 2,960,235 shares, or roughly 3.48% of the outstanding FUTU shares. In other words, the investor’s shares have fallen by -3,401,010 from its previous 13-F filing of 6361245.0. Additionally, Tiger Global Management LLC decreased -40.81% of its stake after which the total value it holdings stand at $91,038,965, while BlackRock Fund Advisors reduced -3.55% of its stake to hold $56.87 million in the firm. Over the last quarter, Greenwoods Investments SG Pte Ltd purchased 1,005,572 shares of Futu Holdings Limited, while BofA Securities, Inc. bought 763,100 shares. At present, SSgA Funds Management, Inc. is holding 1,076,352 shares valued at $39.51 million. Baillie Gifford & Co. owned 1,060,019 shares of the company at the time of its most recent 13F filing, worth $38.91 million.

According to FactSet, Futu Holdings Limited’s share price will average $421.53 in the next year, based on opinions of analysts polled by the firm. This is up nearly 867.92 percent from its previous closing price of $44.58. Analysts expect Futu Holdings Limited stock to reach the higher price of $549.50, while the lowest price estimate is $211.95. However, 20 analysts have rated FUTU stock as a Buy in their predictions for 2022.

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