Futu Holdings Limited (NASDAQ:FUTU) finished Thursday with a subtraction of -$0.07 to close at $53.73, a downside of -0.13 percent. An average of 1,439,380 shares of common stock have been traded in the last five days. There was a fall of -$4.81 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 2,206,370 shares traded, while the 50-day average volume stands at 1,856,266.
FUTU stock has increased by 18.69% in the last month. The company shares reached their 1-month lowest point of $42.80 on 07/11/23. With the stock rallying to its 52-week high on 08/01/23, shares of the company touched a low of $28.00 and a high of $72.20 in 52 weeks. It has reached a new high 14 times so far this year and achieved 32.18% or $13.08 in price. In spite of this, the price is down -25.58% from the 52-week high.
Valuation Metrics
Futu Holdings Limited (FUTU) has a trailing price-to-earnings (P/E) ratio of 16.77. The stock’s beta is 0.88. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.06, the price-to-book (PB) ratio at 2.64.
Financial Health
The quick ratio of Futu Holdings Limited for the three months ended March 30 was 1.20, and the current ratio was 1.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.15 for the quarter ending March 30. Its gross profit as reported stood at $457.46 million compared to revenue of $975.97 million.
Earnings Surprise
For the three-month period that ended March 30, Futu Holdings Limited had $317.96 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $375.18 million in the quarter, while revenues were grew 3.97%. The analyst consensus anticipated Futu Holdings Limited’s latest quarter earnings to come in at $0.82 per share, but it turned out to be $1.15, a 40.20% surprise. For the quarter, EBITDA amounted to $178.98 million. At the end of the quarter ending March 30, Futu Holdings Limited’s stock balance sheet showed total debt was $3.45 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Futu Holdings Limited (FUTU) price momentum. RSI 9-day as of the close on 10 August was 51.32%, suggesting the stock is Neutral, with historical volatility in this time frame at 54.58%.
As of today, FUTU’s price is $55.09 -8.21% or -$4.81 from its 5-day moving average. FUTU is currently trading +15.97% higher than its 20-day SMA and +19.21% higher than its 100-day SMA. However, the stock’s current price level is +45.45% above the SMA50 and +53.73% above the SMA200.
The stochastic %K and %D were 51.19% and 57.87%, respectively, and the average true range (ATR) was 2.73. With the 14-day stochastic at 49.91% and the average true range at 2.65, the RSI (14) stands at 56.38%. The stock has reached -2.68 on the 9-day MACD Oscillator while the 14-day reading was at -1.50.
Analyst Ratings
Credit Suisse upgraded Futu Holdings Limited (NASDAQ: FUTU) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Futu Holdings Limited (FUTU) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell FUTU, while 3 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 13 others rate it as a “buy”.
