Futu Holdings Limited (FUTU): A Technical View

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At the last check on Friday, Futu Holdings Limited’s (NASDAQ:FUTU) stock was down -$3.79, moving down -6.72 percent to $52.59. The average number of shares traded per day over the past five days has been 2,808,740 shares. 4 times new highs have been achieved over the past 5 days, with a $0.65 gain in that time frame. In the last twenty days, the average volume was 2,490,920, while in the previous 50 days, it was 2,196,184.

Since last month, FUTU stock rose 71.16%. Shares of the company fell to $32.32 on 10/28/22, the lowest level in the past month. A 52-week high of $57.76 was reached on 06/27/22 after having rallying from a 52-week low of $21.23. Since the beginning of this year, FUTU’s stock price has risen by 30.21% or $9.61, and marked a new high 9 times. However, the stock has declined by -8.95% since its 52-week high.


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Valuation Metrics

Right now, Futu Holdings Limited (FUTU) has a P/E ratio of about 28.52. The stock’s beta is 0.34. Besides these, the trailing price-to-sales (P/S) ratio of 9.96, the price-to-book (PB) ratio of 3.21.

Financial Health

In the three months ended June 29, Futu Holdings Limited’s quick ratio stood at 1.20, while its current ratio was 1.20, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 86.30% percent. In the year ended June 29, operating margins totaled 40.80%. Based on annual data, FUTU earned $408.07 million in gross profit and brought in $912.27 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 8.80%. Return on equity (ROE) for the past 12 months was 11.30%.

In Futu Holdings Limited’s quarter-end financial report for June 29, it reported total debt of $815.09 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. FUTU’s revenue rose 53.19% during the quarter, while net income inched up to $912.27 million. While analysts expected Futu Holdings Limited to report $0.6 quarterly earnings, the actual figure was $0.46 per share, beating the consensus estimate by -23.30%. During the quarter, the company generated $123.1 million in EBITDA.

Technical Picture

This quick technical analysis looks at Futu Holdings Limited’s (FUTU) price momentum. With a historical volatility rate of 94.82%, the RSI 9-day stood at 64.17% on 23 November.

With respect to its five-day moving average, the current Futu Holdings Limited price is up by +1.24% percent or $0.65. At present, FUTU shares trade +53.54% above its 20-day simple moving average and +6.03% percent above its 100-day simple moving average. However, the stock is currently trading approximately +19.79% above its SMA50 and +16.03% above its SMA200.

Stochastic coefficient K was 93.18% and Stochastic coefficient D was 95.14%, while ATR was 3.54. Given the Stochastic reading of 80.21% for the 14-day period, the RSI (14) reading has been calculated as 64.86%. As of today, the MACD Oscillator reading stands at 2.32, while the 14-day reading stands at 6.22.

Analyst Ratings

JP Morgan upgraded its rating on Futu Holdings Limited (NASDAQ: FUTU) to an Overweight in a note to investors on September 01, 2022. The analysts firm previously had a Neutral rating on the stock.Futu Holdings Limited (FUTU) has been rated Buy by analysts. According to 0 brokerage firms, FUTU is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Futu Holdings Limited stock as buy, with 18 recommending it as overweight.

With a median target price of $485.67, the current consensus forecast for the stock is $313.78 – $606.22. Based on these forecasts, analysts predict Futu Holdings Limited (FUTU) will achieve an average price target of $486.09.

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