OneConnect Financial Technology (NYSE:OCFT) Stock Price Up 8.6% – WKRB News

   2021-12-23 10:12


OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) rose 8.6% on Tuesday . The stock traded as high as $2.41 and last traded at $2.41. Approximately 23,095 shares were traded during trading, a decline of 99% from the average daily volume of 3,410,794 shares. The stock had previously closed at $2.22.



Separately, Zacks Investment Research raised shares of OneConnect Financial Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, October 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $13.63.


The firm’s 50 day simple moving average is $2.86 and its 200-day simple moving average is $5.80.

OneConnect Financial Technology (NYSE:OCFT) last announced its quarterly earnings data on Thursday, November 18th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. OneConnect Financial Technology had a negative net margin of 32.79% and a negative return on equity of 27.22%. During the same period in the prior year, the firm posted ($0.10) earnings per share. As a group, equities research analysts expect that OneConnect Financial Technology Co., Ltd. will post -0.48 EPS for the current year.

Several hedge funds have recently made changes to their positions in OCFT. Tobam bought a new stake in shares of OneConnect Financial Technology during the 2nd quarter worth about $29,000. Itau Unibanco Holding S.A. bought a new stake in OneConnect Financial Technology in the 2nd quarter valued at about $39,000. Shell Asset Management Co. acquired a new position in shares of OneConnect Financial Technology in the 2nd quarter valued at approximately $85,000. Advisory Services Network LLC acquired a new position in shares of OneConnect Financial Technology in the 2nd quarter valued at approximately $89,000. Finally, Macquarie Group Ltd. acquired a new position in shares of OneConnect Financial Technology in the 2nd quarter valued at approximately $91,000. 17.30% of the stock is owned by institutional investors and hedge funds.

OneConnect Financial Technology Company Profile (NYSE:OCFT)

OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People’s Republic of China. 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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