Short Interest in Futu Holdings Limited (NASDAQ:FUTU) Increases By 5.6%

Futu Holdings Limited (NASDAQ:FUTU) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 4,350,000 shares, a growth of 5.6% from the January 15th total of 4,120,000 shares. Based on an average trading volume of 2,490,000 shares, the short-interest ratio is currently 1.7 days.

Futu Stock Performance

NASDAQ FUTU traded up $3.90 during trading hours on Monday, reaching $121.82. The company’s stock had a trading volume of 5,566,288 shares, compared to its average volume of 2,282,041. The stock has a market cap of $16.79 billion, a PE ratio of 29.86, a PEG ratio of 0.77 and a beta of 0.76. The company’s 50-day moving average is $89.73 and its two-hundred day moving average is $83.86. Futu has a fifty-two week low of $49.17 and a fifty-two week high of $130.50.

Futu Announces Dividend

The business also recently disclosed a — dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 6th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, December 6th.

Institutional Investors Weigh In On Futu

A number of institutional investors and hedge funds have recently bought and sold shares of FUTU. CWM LLC raised its holdings in shares of Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after acquiring an additional 300 shares during the last quarter. Creative Planning raised its stake in Futu by 6.3% in the 3rd quarter. Creative Planning now owns 14,091 shares of the company’s stock valued at $1,348,000 after purchasing an additional 838 shares during the last quarter. Blue Trust Inc. raised its stake in Futu by 242.1% in the 3rd quarter. Blue Trust Inc. now owns 8,889 shares of the company’s stock valued at $850,000 after purchasing an additional 6,291 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Futu by 14.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock worth $84,000 after purchasing an additional 112 shares during the last quarter. Finally, BOCHK Asset Management Ltd grew its holdings in shares of Futu by 23.3% during the third quarter. BOCHK Asset Management Ltd now owns 7,400 shares of the company’s stock worth $708,000 after buying an additional 1,400 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on FUTU. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and raised their target price for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Futu currently has a consensus rating of “Moderate Buy” and an average price target of $91.40.

About Futu

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.