Shares of Futu Holdings Ltd (NASDAQ:FHL) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $12.00 and last traded at $12.81, with a volume of 1748 shares. The stock had previously closed at $12.08.

A number of brokerages have recently issued reports on FHL. UBS Group began coverage on Futu in a report on Wednesday, April 3rd. They set a “neutral” rating for the company. Goldman Sachs Group began coverage on Futu in a report on Tuesday, April 2nd. They set a “neutral” rating and a $17.62 target price for the company.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Laurion Capital Management LP acquired a new position in shares of Futu in the 1st quarter valued at approximately $370,000. National Asset Management Inc. acquired a new stake in shares of Futu during the 1st quarter valued at approximately $226,000. BlackRock Inc. acquired a new stake in shares of Futu during the 1st quarter valued at approximately $7,408,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Futu during the 1st quarter valued at approximately $11,112,000. Finally, Pinebridge Investments L.P. acquired a new stake in shares of Futu during the 1st quarter valued at approximately $630,000. Hedge funds and other institutional investors own 0.04% of the company’s stock.

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About Futu (NASDAQ:FHL)

Futu Holdings Limited operates digitized brokerage platform in Hong Kong, China, Japan, the United States, and internationally. Its platform offers investing services, including trade execution and margin financing which allows to trade securities, such as stocks, warrants, options and exchange-traded funds, or ETFs, across different markets; market data and information; and securities lending services.

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