Pictet Asset Management SA Has $40,000 Stock Holdings in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT)
Several other hedge funds have also modified their holdings of OCFT. Krane Funds Advisors LLC acquired a new stake in shares of OneConnect Financial Technology in the 4th quarter valued at $8,268,000. Marshall Wace LLP boosted its holdings in shares of OneConnect Financial Technology by 525.9% in the 3rd quarter. Marshall Wace LLP now owns 2,362,159 shares of the company’s stock valued at $9,685,000 after purchasing an additional 1,984,727 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of OneConnect Financial Technology in the 3rd quarter valued at $3,477,000. Rafferty Asset Management LLC boosted its holdings in shares of OneConnect Financial Technology by 241.9% in the 4th quarter. Rafferty Asset Management LLC now owns 922,187 shares of the company’s stock valued at $2,278,000 after purchasing an additional 652,445 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of OneConnect Financial Technology by 1,118.9% during the 2nd quarter. Morgan Stanley now owns 670,980 shares of the company’s stock valued at $8,065,000 after acquiring an additional 615,933 shares in the last quarter. 14.91% of the stock is currently owned by hedge funds and other institutional investors.
OCFT stock opened at $1.41 on Friday. The stock has a 50-day moving average price of $1.44 and a 200-day moving average price of $1.87. OneConnect Financial Technology Co., Ltd. has a 1-year low of $0.99 and a 1-year high of $16.53. The firm has a market cap of $549.89 million, a PE ratio of -2.64 and a beta of 0.40.
OneConnect Financial Technology (NYSE:OCFT – Get Rating) last posted its quarterly earnings data on Wednesday, May 25th. The company reported ($0.76) earnings per share for the quarter, hitting the consensus estimate of ($0.76). OneConnect Financial Technology had a negative return on equity of 29.06% and a negative net margin of 31.00%. During the same period last year, the firm posted ($0.13) earnings per share. On average, equities analysts forecast that OneConnect Financial Technology Co., Ltd. will post -0.41 earnings per share for the current year.
Several equities research analysts recently weighed in on the company. HSBC downgraded OneConnect Financial Technology from a “buy” rating to a “hold” rating in a report on Thursday, February 24th. Zacks Investment Research raised OneConnect Financial Technology from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. Finally, JPMorgan Chase & Co. lowered OneConnect Financial Technology from a “neutral” rating to an “underweight” rating in a research report on Monday, March 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.50.
OneConnect Financial Technology Profile (Get Rating)
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, digital commercial banking, digital auto insurance and life insurance, and artificial intelligence customer services, as well as sales management, risk management, and operation support services.
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