Futu Holdings Limited (NASDAQ:FUTU) finished Thursday with an addition of $0.6 to close at $49.40, an upside of 1.23 percent. An average of 2,057,640 shares of common stock have been traded in the last five days. There was a gain of $0.32 in the past week, and it reached a new high 13 times over the past 12 months. The last 20 days have seen an average of 2,116,930 shares traded, while the 50-day average volume stands at 1,938,080.
FUTU stock has decreased by -6.60% in the last month. The company shares reached their 1-month lowest point of $46.66 on 08/21/23. 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 21.53% or $8.75 in price. In spite of this, the price is down -31.58% from the 52-week high.
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Valuation Metrics
Futu Holdings Limited (FUTU) has a trailing price-to-earnings (P/E) ratio of 15.47. The stock’s beta is 0.90. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.50, the price-to-book (PB) ratio at 2.43.
Financial Health
The quick ratio of Futu Holdings Limited for the recent quarter 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 recent quarter. Its gross profit as reported stood at $457.46 million compared to revenue of $975.97 million.
Earnings Surprise
For the recent quarter, 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%. At the end of the recent quarter, 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 24 August was 44.75%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.20%.
As of today, FUTU’s price is $48.67 +0.65% or $0.32 from its 5-day moving average. FUTU is currently trading -9.22% lower than its 20-day SMA and -4.73% lower than its 100-day SMA. However, the stock’s current price level is +18.98% above the SMA50 and +26.96% above the SMA200.
The stochastic %K and %D were 18.27% and 14.81%, respectively, and the average true range (ATR) was 2.54. With the 14-day stochastic at 24.86% and the average true range at 2.54, the RSI (14) stands at 48.07%. The stock has reached 0.09 on the 9-day MACD Oscillator while the 14-day reading was at -1.59.
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.
What is FUTU’s price target for the next 12 months?
Analysts predict a range of price targets between $251.72 and $674.46, with a median target of $500.33. Taking a look at these predictions, the average price target given by analysts for Futu Holdings Limited (FUTU) stock is $474.64.
