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Why Is Futu Holdings Limited (NASDAQ: FUTU) Falling?

Futu Holdings Limited (NASDAQ:FUTU) traded at $39.96 at close of the session on Wednesday, September 21, made a downward move of -5.53% on its previous day’s price.

Looking at the stock we see that its previous close was $42.30 and the beta (5Y monthly) reads 0.45 with the day’s price range being $41.595 – $43.39. The company has a trailing 12-month PE ratio of 21.46. In terms of its 52-week price range, FUTU has a high of $97.80 and a low of $21.23. The company’s stock has gained about 10.24% over that past 30 days.

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Futu Holdings Limited has a market cap of $6.70 billion and is expected to release its quarterly earnings report on Mar 14, 2022 – Mar 18, 2022. Estimates by analysts give the company expected earnings per share (EPS) of $1.05, with the EPS growth for the year raised at $2.55 for 2021 and $3.9 for next year. These figures represent 90.30% and 52.90% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $281.17 million, with a low of $281.17 million and a high of $281.17 million. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2021 is expected to hit $975.21 million, or 128.80% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the FUTU stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 50% Sell.

Based on estimates by 20 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 3 have rated the Futu Holdings Limited (FUTU) stock as a Hold, while 16 rate it as a Buy. 0 analyst(s) rate it as overweight while 1 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the FUTU stock currently stands at 2.38, and the current price level is -10.92% off its SMA20 and -8.20% from its 50-day simple moving average. The RSI (14) is pointing at 39.66 while the volatility over the past week is 4.30% and jumps to 6.36% over the past one month. The beta value is 0.21, while the average true range (ATR) is currently pointing at 2.61. The average price target for the stock over the next 12 months is $448.58, with the estimates having a low of $313.78 and a high of $588.62. These price ends are -685.24% and -1373.02% off the current price level respectively, although investors could be excited at the prospect of a -1009.76% if the FUTU share price touches on the median price of $443.46.

Coming back to Futu Holdings Limited (NASDAQ:FUTU), we note that the average 3-month trading volume was 2.73 million, while that of the preceding 10-day period stands at 1.43 million. Current shares outstanding are 142.43 million.

The insiders hold 8.15% of the company’s shares while institutions hold 38.30%. The data shows that short shares as of Jul 14, 2022, stood at 9.17 million at a short ratio of 2.64. This represents a 6.24% short interest in shares outstanding on Jul 14, 2022. Shares short fall in July from the previous month at 9.65 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -2.31% down in year-to-date price movement.

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