Van ECK Associates Corp Has $5.52 Million Stock Holdings in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT)

Van ECK Associates Corp reduced its stake in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,345,019 shares of the company’s stock after selling 53,139 shares during the quarter. Van ECK Associates Corp owned about 0.34% of OneConnect Financial Technology worth $5,515,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tobam acquired a new position in shares of OneConnect Financial Technology in the second quarter worth approximately $29,000. Itau Unibanco Holding S.A. acquired a new position in shares of OneConnect Financial Technology in the second quarter worth approximately $39,000. Shell Asset Management Co. acquired a new position in shares of OneConnect Financial Technology in the second quarter worth approximately $85,000. Advisory Services Network LLC acquired a new position in shares of OneConnect Financial Technology in the second quarter worth approximately $89,000. Finally, Macquarie Group Ltd. acquired a new position in shares of OneConnect Financial Technology in the second quarter worth approximately $91,000. 17.30% of the stock is currently owned by institutional investors.

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Separately, Zacks Investment Research raised OneConnect Financial Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, October 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, OneConnect Financial Technology presently has an average rating of “Buy” and a consensus price target of $13.63.

Shares of OCFT stock opened at $2.50 on Friday. The company has a market cap of $974.99 million, a P/E ratio of -4.72 and a beta of 0.31. The stock has a 50 day simple moving average of $2.74 and a two-hundred day simple moving average of $5.43. OneConnect Financial Technology Co., Ltd. has a fifty-two week low of $2.02 and a fifty-two week high of $24.95.

OneConnect Financial Technology (NYSE:OCFT) last issued its earnings results on Thursday, November 18th. The company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.01. The business had revenue of $164.53 million during the quarter. OneConnect Financial Technology had a negative return on equity of 27.22% and a negative net margin of 32.79%. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. On average, research analysts predict that OneConnect Financial Technology Co., Ltd. will post -0.48 EPS for the current year.

OneConnect Financial Technology Profile

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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