As of Thursday close, Futu Holdings Limited’s (NASDAQ:FUTU) stock was down -$1.08, moving down -1.78 percent to $59.60. The average number of shares traded per day over the past five days has been 3,885,600 shares. 5 times new highs have been achieved over the past 5 days, with a $10.20 gain in that time frame. In the last twenty days, the average volume was 2,307,600, while in the previous 50 days, it was 2,137,260.
Since last month, FUTU stock rose 7.50%. Shares of the company fell to $46.66 on 08/21/23, the lowest level in the past month. A 52-week high of $72.20 was reached on 08/01/23 after having rallying from a 52-week low of $28.00. Since the beginning of this year, FUTU’s stock price has risen by 46.62% or $18.95, and marked a new high 14 times. However, the stock has declined by -17.45% since its 52-week high.
Valuation Metrics
Right now, Futu Holdings Limited (FUTU) has a P/E ratio of about 16.38. The stock’s beta is 0.85. Besides these, the trailing price-to-sales (P/S) ratio of 6.86, the price-to-book (PB) ratio of 2.89.
Financial Health
In the three months ended June 29, Futu Holdings Limited’s quick ratio stood at 1.30, while its current ratio was 1.30, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 86.70% percent. In the year ended June 29, operating margins totaled 51.60%. Based on annual data, FUTU earned $457.46 million in gross profit and brought in $975.97 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 13.50%. Return on equity (ROE) for the past 12 months was 18.80%.
In Futu Holdings Limited’s quarter-end financial report for June 29, it reported total debt of $317.96 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. FUTU’s revenue rose 6.53% during the quarter, while net income inched up to $975.97 million. While analysts expected Futu Holdings Limited to report $0.88 quarterly earnings, the actual figure was $1.08 per share, beating the consensus estimate by 22.70%. During the quarter, the company generated $160.61 million in EBITDA.
Technical Picture
This quick technical analysis looks at Futu Holdings Limited’s (FUTU) price momentum. With a historical volatility rate of 49.12%, the RSI 9-day stood at 73.55% on 31 August.
With respect to its five-day moving average, the current Futu Holdings Limited price is up by +20.65% percent or $10.20. At present, FUTU shares trade +1.82% above its 20-day simple moving average and +24.06% percent above its 100-day simple moving average. However, the stock is currently trading approximately +49.37% above its SMA50 and +30.67% above its SMA200.
Stochastic coefficient K was 92.29% and Stochastic coefficient D was 88.44%, while ATR was 3.08. Given the Stochastic reading of 87.49% for the 14-day period, the RSI (14) reading has been calculated as 68.31%. As of today, the MACD Oscillator reading stands at 6.59, while the 14-day reading stands at 8.29.
Analyst Ratings
BofA Securities upgraded its rating on Futu Holdings Limited (NASDAQ: FUTU) to a Buy in a note to investors on August 28, 2023. The analysts firm previously had an Underperform rating on the stock.Futu Holdings Limited (FUTU) has been rated Overweight by analysts. According to 1 brokerage firm, FUTU is a sell, and 3 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Futu Holdings Limited stock as buy, with 15 recommending it as overweight.
With a median target price of $519.04, the current consensus forecast for the stock is $266.32 – $674.66. Based on these forecasts, analysts predict Futu Holdings Limited (FUTU) will achieve an average price target of $498.33.
