OneConnect Financial Technology Co. (NASDAQ:OCFT) Given Consensus Rating of “Buy” by Brokerages
Shares of OneConnect Financial Technology Co. (NASDAQ:OCFT) have been given a consensus rating of “Buy” by the six ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $19.86.
OCFT has been the topic of a number of recent analyst reports. KeyCorp boosted their price target on shares of OneConnect Financial Technology from $22.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. downgraded shares of OneConnect Financial Technology from an “overweight” rating to a “neutral” rating and set a $24.00 price target on the stock. in a report on Tuesday, July 21st. Finally, Zacks Investment Research downgraded shares of OneConnect Financial Technology from a “buy” rating to a “hold” rating in a report on Friday, May 29th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Management One Co. Ltd. purchased a new position in shares of OneConnect Financial Technology in the first quarter valued at $28,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of OneConnect Financial Technology in the 2nd quarter worth approximately $54,000. Tower Research Capital LLC TRC acquired a new position in shares of OneConnect Financial Technology in the 1st quarter worth approximately $50,000. Pendal Group Ltd acquired a new position in shares of OneConnect Financial Technology in the 1st quarter worth approximately $121,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of OneConnect Financial Technology in the second quarter worth about $221,000.
NASDAQ OCFT opened at $21.00 on Thursday. OneConnect Financial Technology has a one year low of $9.02 and a one year high of $28.80. The firm’s fifty day moving average is $22.12 and its two-hundred day moving average is $15.08.
About OneConnect Financial Technology
OneConnect Financial Technology Co, Ltd. operates as a technology-as-a-service platform for financial institutions in the People’s Republic of China. The company provides cloud-platform-based Fintech solutions, and online information and operating support services. It offers digital retail banking, small and medium enterprises (SME) financing and services, retail and SME banking risk-management, auto insurance operations and services, asset management, asset-liability management, artificial intelligence customer service, core systems, and insurance sales management solutions.
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