In the last trading session, 1.04 million OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) shares changed hands as the company’s beta touched 0. With the company’s per share price at $4.49 changed hands at $0.09 or 2.05% during last session, the market valuation stood at $1.81B. OCFT’s last price was a discount, traded about -455.68% off its 52-week high of $24.95. The share price had its 52-week low at $4.00, which suggests the last value was 10.91% up since then. When we look at OneConnect Financial Technology Co. Ltd.’s average trading volume, we note the 3-month average coming to 1.59 million.
Analysts gave the OneConnect Financial Technology Co. Ltd. (OCFT) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 4 recommended OCFT as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. OneConnect Financial Technology Co. Ltd.’s EPS for the current quarter is expected to be -$0.14.
OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) trade information
Instantly OCFT was in green as seen at the end of in last trading. With action -2.60%, the performance over the past five days has been red. The jump to weekly highs of 4.91 on Monday, 09/13/21 added 2.05% to the stock’s daily price. The company’s shares are showing year-to-date downside of -77.22%, with the 5-day performance at -2.60% in the red. However, in the 30-day time frame, OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) is -6.65% down.
The consensus price target for the stock as assigned by Wall Street analysts is $11.95, meaning bulls need an upside of 62.43% from its current market value. According to analyst projections, OCFT’s forecast low is $6.00 with $24.93 as the target high. To hit the forecast high, the stock’s price needs a -455.23% plunge from its current level, while the stock would need to soar -33.63% for it to hit the projected low.
OneConnect Financial Technology Co. Ltd. (OCFT) estimates and forecasts
Data shows that the OneConnect Financial Technology Co. Ltd. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -73.51% over the past 6 months, a 10.91% in annual growth rate that is considerably higher than the industry average of 9.10%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for OneConnect Financial Technology Co. Ltd. will fall -27.30%, while the growth in revenue is estimated to hit 20.00% for the next quarter. Year-over-year growth is forecast to reach 28.20% up from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $166.18 million. 1 analysts are of the opinion that OneConnect Financial Technology Co. Ltd.’s revenue for the quarter ending Dec 2021 will be $199.9 million. The company’s revenue for the corresponding quarters a year ago was $139.99 million and $163.79 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 18.70%. The estimates for the next quarter sales put growth at 22.00%.
The 2021 estimates are for OneConnect Financial Technology Co. Ltd. earnings to increase by 23.50%, but the outlook for the next 5-year period is at 9.19% per year.
OneConnect Financial Technology Co. Ltd. is expected to release its next quarterly earnings report on May 11.
OneConnect Financial Technology Co. Ltd. (NYSE:OCFT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.26% of OneConnect Financial Technology Co. Ltd. shares while 17.08% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 17.13%. There are 17.08% institutions holding the OneConnect Financial Technology Co. Ltd. stock share, with Invesco Ltd. the top institutional holder. As of Mar 30, 2021, the company held 5.10% of the shares, roughly 19.89 million OCFT shares worth $293.9 million.
Capital Research Global Investors holds the second largest percentage of outstanding shares, with 2.97% or 11.57 million shares worth $171.0 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Jan 30, 2021 were Invesco Developing Markets Fund and New World Fund, Inc. With 18.65 million shares estimated at $382.63 million under it, the former controlled 4.78% of total outstanding shares. On the other hand, New World Fund, Inc. held about 1.60% of the shares, roughly 6.25 million shares worth around $92.44 million.