Investing in Futu Holdings Limited [FUTU]: What You Must Know


As published in a research note from CLSA on January 03, 2023, Futu Holdings Limited [FUTU] has been rated down from a Buy to an Underperform and the price target has been revised to $43. This represents a -4.21% premium over Thursday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”an Underperform”‘ outlook in a report released in late December. As of December 16, 2022, Credit Suisse has decreased its “an Outperform” rating to a “Neutral” for FUTU. Earlier on September 01, 2022, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for FUTU stock which previously was a “a Neutral”.

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Analyzing FUTU Stock Performance

On Thursday, Futu Holdings Limited [NASDAQ: FUTU] plunged -3.61% to $44.81. The stock’s lowest price that day was $44.14, but it reached a high of $47.565 in the same session. During the last five days, there has been a drop of approximately -10.75%. Over the course of the year, Futu Holdings Limited shares have jumped approximately 10.23%. Shares of the company reached a 52-week high of $56.56 on 02/02/23 and a 52-week low of $37.71 on 01/03/23. A 50-day SMA is recorded $52.83, while a 200-day SMA reached $45.63. Nevertheless, trading volume fell to 2.42 million shares from 1.37 million shares the previous day.

Support And Resistance Levels for Futu Holdings Limited (FUTU)

According to the 24-hour chart, there is a support level at 43.44, which, if violated, would cause prices to drop to 42.08. In the upper region, resistance lies at 46.87. The next price resistance is at 48.93. RSI (Relative Strength Index) is 38.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.20, which suggests the price will decrease in the coming days. Percent R is at 93.77%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Futu Holdings Limited subject to short interest?

Stocks of Futu Holdings Limited saw a sharp rise in short interest on Jan 30, 2023 jumping by 1.37 million shares to 8.69 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 7.32 million shares. A jump of 15.77% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.92 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.92.

Which companies own the most shares of Futu Holdings Limited (FUTU)?

According to Capital Research & Management Co filings, the company currently owns 2,496,797 shares, which is about 2.93% of the total FUTU shares outstanding. The investor’s shares have plunged by -1,281,125 from its previous 13-F filing of 3777922.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $89,785,405. Renaissance Technologies LLC acquire a 791.70% interest valued at $86.18 million while Baillie Gifford & Co. sold a -5,802 stake. A total of 55,698 shares of Futu Holdings Limited were sold by SSgA Funds Management, Inc. during the quarter, and 361,649 were bought by Morgan Stanley & Co. LLC. In its current portfolio, Greenwoods Investments SG Pte Ltd holds 940,484 shares valued at $47.74 million.

In terms of Futu Holdings Limited share price expectations, FactSet research, analysts set an average price target of $471.62 in the next 12 months, up nearly 927.86% from the previous closing price of $46.49. Analysts anticipate Futu Holdings Limited stock to reach $761.89 by 2023, with the lowest price target being $210.73. In spite of this, 22 analysts ranked Futu Holdings Limited stock as an Overweight at the end of 2023. On September 01, 2022, CLSA assigned a price target of “an Underperform” to the stock and upgraded coverage with a $46.


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