This afternoon we watched Futu drop -7.7% to a price of $65.47 per share. The Mid-Cap Capital Markets company is now trading -18.61% below its average target price of $80.44. Analysts have set target prices ranging from $50.58 to $99.93 per share for Futu, and have given the stock an average rating of buy.
Futu's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 3.5%. The stock's short ratio is 2.17. Since 16.16% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests.
Another number to watch is the company's rate of institutional share ownership, which now stands at 32.1%. In conclusion, we believe there is positive market sentiment regarding Futu.
Institutions Invested in Futu
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-03-31 | Aspex Management (HK) Ltd | 5% | 4,310,828 | $282,229,914 |
| 2024-03-31 | Blackrock Inc. | 4% | 3,942,914 | $258,142,584 |
| 2024-03-31 | Greenwoods Asset Management Hong Kong Ltd. | 2% | 2,220,167 | $145,354,336 |
| 2024-03-31 | Morgan Stanley | 2% | 1,644,115 | $107,640,211 |
| 2024-03-31 | State Street Corporation | 1% | 1,193,808 | $78,158,611 |
| 2024-03-31 | HSG Holding Ltd. | 1% | 1,057,644 | $69,243,953 |
| 2024-03-31 | FengHe Fund Management Pte. Ltd | 1% | 933,712 | $61,130,125 |
| 2024-03-31 | Marshall Wace LLP | 1% | 886,945 | $58,068,290 |
| 2024-03-31 | Millennium Management Llc | 1% | 750,834 | $49,157,102 |
| 2024-03-31 | Goldman Sachs Group Inc | 1% | 643,548 | $42,133,088 |
