FUTU Was Down Today. What Is Up?

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
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.