Freedom (NASDAQ:FRHC) Sees Strong Trading Volume – Here’s Why

Shares of Freedom Holding Corp. (NASDAQ:FRHC) saw an uptick in trading volume on Monday . 34,836 shares changed hands during trading, a decline of 50% from the previous session’s volume of 69,899 shares.The stock last traded at $99.80 and had previously closed at $97.85.

Freedom Stock Performance

The business’s fifty day moving average price is $92.33 and its 200-day moving average price is $80.83. The stock has a market capitalization of $6.06 billion, a PE ratio of 15.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.20 and a quick ratio of 1.20.

Freedom (NASDAQ:FRHC) last posted its earnings results on Friday, August 9th. The company reported $0.57 earnings per share (EPS) for the quarter. The business had revenue of $450.72 million for the quarter. Freedom had a net margin of 19.32% and a return on equity of 32.00%.

Hedge Funds Weigh In On Freedom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sparta 24 Ltd. bought a new stake in shares of Freedom during the 2nd quarter valued at about $1,996,000. Marshall Wace LLP purchased a new stake in Freedom in the second quarter valued at approximately $618,000. Quadrature Capital Ltd purchased a new position in Freedom in the 1st quarter worth approximately $426,000. Quest Partners LLC raised its position in shares of Freedom by 901.9% during the 2nd quarter. Quest Partners LLC now owns 5,390 shares of the company’s stock valued at $406,000 after buying an additional 4,852 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Freedom by 44.0% during the 2nd quarter. Algert Global LLC now owns 5,905 shares of the company’s stock worth $445,000 after acquiring an additional 1,805 shares during the last quarter. 1.26% of the stock is currently owned by hedge funds and other institutional investors.

Freedom Company Profile

Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, retail banking, corporate investment banking, and underwriting services. It offers retail brokerage services for exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange traded options and futures contracts, government bonds, and mutual funds; margin lending services collateralized by securities and cash in the customer's account; various investment education and training courses; investment research services; and commercial banking services, including payment cards, digital mortgages, and digital business and digital auto loans, as well as Freedom Box, a package of payment acquiring services.