OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) does about 763.89K shares in volume on a normal day but saw 1162715 shares change hands in Friday trading. The company now has a market cap of 7.35B USD and an enterprise value of about $7.29B. Its current market price is $20.13, marking an increase of 1.21% compared to the previous close of $19.89. The 52 week high reached by this stock is $28.80 whilst the lowest price level in 52 weeks is $9.02. The script in recent trading has seen the stock touch a high of $20.16 and a low of $18.65.
OneConnect Financial Technology Co. Ltd. (OCFT) has a 20-day trading average at $22.83 and the current price is -30.10% off the 52-week high compared with 123.17% distance from its 52-week low. The 50-day simple moving average of the closing price is $20.68. If we look at the stock’s price movements over the week, volatility stands at 8.03%, which decreases to 7.95% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 43.61 to suggest the stock is neutral.
6 analysts observing the OneConnect Financial Technology Co. Ltd. (OCFT) stock have set the 12-month price targets for the company’s shares at between $23.20 and $28.50. The consensus objective for the share price is $26.59, suggesting that the stock has a potential upside of 24.29% over the period. The median price target is 24.75% away from the current levels at $26.75.
FactSet Research has provided data showing that 6 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 4 analysts have rated it as a buy and 2 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The current price level is -12.30%, -2.08%, and 39.20% away from its SMA20, SMA50, and SMA200 respectively, with the OCFT price moving above the 50-day SMA on August 14. OneConnect Financial Technology Co. Ltd. (OCFT) stock is down -3.41% over the week and -10.97% over the past month. Its price is 100.70% year-to-date.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of -$0.14 above consensus estimates by $0.01. The company’s next earnings report is expected on 12/02/2020, with forecasts estimating quarterly EPS at -$0.14 and -$0.6 for whole year. OCFT’s earnings per share are forecast to grow by 20.00% this year and 25.00% over next year. Expected sales for next quarter are $168.26 million, which analysts say will come at $489.19 million for the current fiscal year and next year at $757.03 million. In addition, estimates put the company’s current quarterly revenue at an average of $135.02 million.
Its 12-month price target is $26.75. To reach the target analysts have set, the stock logically needs to grow 24.29 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $23.20, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $28.50.
Outstanding shares total 365.77M with insiders holding 0.27% of the shares and institutional holders owning 9.82% of the company’s common stock. The company has a return on investment of -20.90% and return on equity of -48.80%. Price to book ratio is 11.70 and price to sales ratio is 20.73.
According to a U.S. Securities and Exchange Commission filing, Invesco Oppenheimer Developing Ma has added its position in OneConnect Financial Technology Co. Ltd. (OCFT) to 15,021,371 shares, mirroring a recent increase by 1.97%. Invesco Oppenheimer Developing Ma added 0.29 million shares of OneConnect Financial Technology Co. Ltd. common stock bringing its total worth to about $359.31 million at the end of recent close, SEC documents show. Invesco Oppenheimer Developing Ma isn’t the only investment manager who changed stakes and is followed by American Funds Small Cap World Fu, which sold off -0.58 million shares to end up with 4,717,371 shares worth $112.84 million. American Funds Insurance Series – cut their holdings by -20.75% in the company over the course of the most recent quarter. It now holds a 0.29% position in OneConnect Financial Technology Co. Ltd. thanks to 1.09 million shares amounting to $26.01 million.