Handelsbanken Fonder AB Raises Stock Holdings in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT)
Several other large investors have also added to or reduced their stakes in OCFT. Itau Unibanco Holding S.A. purchased a new stake in shares of OneConnect Financial Technology during the second quarter worth about $39,000. Shell Asset Management Co. purchased a new stake in shares of OneConnect Financial Technology during the second quarter worth about $85,000. Advisory Services Network LLC purchased a new stake in shares of OneConnect Financial Technology during the second quarter worth about $89,000. Macquarie Group Ltd. purchased a new stake in shares of OneConnect Financial Technology during the second quarter worth about $91,000. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of OneConnect Financial Technology during the second quarter worth about $109,000. Hedge funds and other institutional investors own 16.75% of the company’s stock.
Separately, Zacks Investment Research upgraded OneConnect Financial Technology from a “sell” rating to a “hold” rating in a research report 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 company presently has an average rating of “Buy” and an average target price of $13.63.
NYSE OCFT opened at $2.23 on Thursday. The stock has a market capitalization of $869.69 million, a PE ratio of -4.21 and a beta of 0.30. The business has a 50 day simple moving average of $2.49 and a two-hundred day simple moving average of $4.42. OneConnect Financial Technology Co., Ltd. has a 1-year low of $2.02 and a 1-year high of $23.77.
OneConnect Financial Technology (NYSE:OCFT) last released its quarterly earnings results on Thursday, November 18th. The company reported ($0.11) earnings per share for the quarter, beating the 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 prior year, the business earned ($0.10) EPS. Equities analysts predict that OneConnect Financial Technology Co., Ltd. will post -0.48 EPS for the current fiscal 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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