OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) price is hovering higher on Tuesday, August 24, jumping 6.87% above its previous close.
A look at today’s price movement shows that the recent level at last check reads $4.22, with intraday deals fluctuating between $3.9973 and $4.225. Taking into account the 52-week price action we note that the stock hit a 52-week high of $24.95 and 52-week low of $4.00. The stock subtracted -52.85% on its value in the past month.
OneConnect Financial Technology Co. Ltd., which has a market valuation of $1.61 billion, is expected to release its quarterly earnings report Oct 18, 2021 – Oct 22, 2021. Analysts tracking OCFT have forecast the quarterly EPS to shrink by -0.84 per share this quarter, while the same analysts predict the annual EPS to hit -$3.13 for the year 2021 and up to -$1.93 for 2022. In this case, analysts estimate an annual EPS growth of -439.70% for the year and 38.30% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $967.75 million, with the likely lows of $1.09 billion and highs of $1.09 billion. The average estimate suggests sales growth for the quarter will likely rise by 766.50% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $4.28 billion for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to grow 747.80% above that which the company brought in 2021.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give OCFT a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 10 analysts have assigned OCFT a recommendation rating as follows: 4 rate it as a Hold; 5 advise Buy while 1 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the OneConnect Financial Technology Co. Ltd. (OCFT) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Overweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that OCFT’s price is at present -21.03% off the SMA20 and -49.06% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 25.04, with weekly volatility standing at 8.86%. The indicator jumps to 8.88% when calculated based on the past 30 days. OneConnect Financial Technology Co. Ltd. (NYSE:OCFT)’s beta value is holding at 0, while the average true range (ATR) indicator is currently reading 0.51. Considering analysts have assigned the stock a price target range of $6.00-$24.93 as the low and high respectively, we find the trailing 12-month average consensus price target to be $12.12. Based on this estimate, we see that today’s price at last check is roughly -33.04% off the estimated low and -452.77% off the forecast high. Investors will no doubt be excited to see the share price fall to $10.15, which is the median consensus price, and at that level OCFT would be -125.06% from recent price.
An analysis of the OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) stock in terms of its daily trading volume indicates that the 3-month average is 1.82 million.
Current records show that the company has 369.48M in outstanding shares. The insiders’ percentage holdings are 0.26% of outstanding shares while the percentage share held by institutions stands at 18.40%. But the -78.59% downside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.