Shares of OneConnect Financial Technology Co., Ltd. (NYSE:OCFT – Get Rating) traded down 5.4% during trading on Friday . The company traded as low as $2.10 and last traded at $2.12. 11,907 shares traded hands during trading, a decline of 100% from the average session volume of 2,473,097 shares. The stock had previously closed at $2.24.
Separately, JPMorgan Chase & Co. cut shares of OneConnect Financial Technology from a “neutral” rating to an “underweight” rating in a research note on Monday, March 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.50.
The business’s 50 day moving average is $1.50 and its 200 day moving average is $1.65. The stock has a market capitalization of $811.18 million, a PE ratio of -3.85 and a beta of 0.09.
OneConnect Financial Technology (NYSE:OCFT – Get Rating) last released its quarterly earnings results on Wednesday, May 25th. The company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12). OneConnect Financial Technology had a negative net margin of 29.89% and a negative return on equity of 31.20%. The firm had revenue of $160.51 million during the quarter, compared to analysts’ expectations of $138.62 million. During the same period in the previous year, the company earned ($0.13) EPS. On average, equities analysts expect that OneConnect Financial Technology Co., Ltd. will post -0.41 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in OneConnect Financial Technology by 26.1% during the 1st quarter. Bank of America Corp DE now owns 218,571 shares of the company’s stock valued at $308,000 after buying an additional 45,271 shares in the last quarter. Jane Street Group LLC lifted its holdings in OneConnect Financial Technology by 321.4% during the 1st quarter. Jane Street Group LLC now owns 127,134 shares of the company’s stock valued at $179,000 after buying an additional 96,964 shares in the last quarter. UBS Group AG lifted its holdings in OneConnect Financial Technology by 368.0% during the 1st quarter. UBS Group AG now owns 52,767 shares of the company’s stock valued at $74,000 after buying an additional 41,492 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in OneConnect Financial Technology by 173.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,484,124 shares of the company’s stock valued at $2,093,000 after buying an additional 940,910 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in OneConnect Financial Technology during the 1st quarter valued at about $41,000. Institutional investors own 14.91% of the company’s stock.
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, 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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