OneConnect Financial Technology Co. Ltd. (NYSE:OCFT)’s traded shares stood at 1.19 million during the last session. At the close of trading, the stock’s price was $3.90, to imply an increase of 5.69% or $0.21 in intraday trading. The OCFT share’s 52-week high remains $24.95, putting it -539.74% down since that peak but still an impressive 8.46% since price per share fell to its 52-week low of $3.57. The company has a valuation of $1.53B, with an average of 1.19 million shares in intraday trading volume over the past 10 days and average of 1.44 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for OneConnect Financial Technology Co. Ltd. (OCFT), translating to a mean rating of 2.20. Of 10 analyst(s) looking at the stock, 0 analyst(s) give OCFT a Sell rating. 1 of those analysts rate the stock as Overweight while 4 advise Hold as 5 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.14.
OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) trade information
After registering a 5.69% upside in the last session, OneConnect Financial Technology Co. Ltd. (OCFT) has traded red over the past five days. The stock hit a weekly high of 4.13 this Thursday, 10/07/21, jumping 5.69% in its intraday price action. The 5-day price performance for the stock is -4.88%, and -12.36% over 30 days. With these gigs, the year-to-date price performance is -80.21%. Short interest in OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) saw shorts transact 2.36 million shares and set a 1.53 days time to cover.
Analysts on Wall Street suggest a consensus price target of $10.02, implying an increase of 61.08% to the stock’s current value. The extremes give us $5.20 and $24.93 for target low and target high price respectively. As such, OCFT has been trading -539.23% off suggested target high and -33.33% from its likely low.
OneConnect Financial Technology Co. Ltd. (OCFT) estimates and forecasts
Looking at statistics comparing OneConnect Financial Technology Co. Ltd. share performance against respective industry, we note that the company has underperformed competitors. OneConnect Financial Technology Co. Ltd. (OCFT) shares are -74.87% down over the last 6 months, with its year-to-date growth rate lower than industry average at 7.27% against 9.90%. Revenue is forecast to shrink -27.30% this quarter before jumping 20.00% for the next one. The rating firms project that company’s revenue will grow 28.20% compared to the previous financial year.
Revenue forecast for the current quarter as set by 1 analysts is $166.18 million. Meanwhile, for the quarter ending Dec 2021, a total of 1 analyst(s) estimate revenue growth to $199.9 million.Earnings reports from the last fiscal year show that sales brought in $139.99 million and $163.79 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 18.70% before jumping 22.00% in the following quarter.
OneConnect Financial Technology Co. Ltd. has its next earnings report out on May 11. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. OneConnect Financial Technology Co. Ltd. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
OneConnect Financial Technology Co. Ltd. (NYSE:OCFT)’s Major holders
OneConnect Financial Technology Co. Ltd. insiders hold 0.26% of total outstanding shares, with institutional holders owning 18.35% of the shares at 18.40% float percentage. In total, 18.35% institutions holds shares in the company, led by Invesco Ltd. As of Jun 29, 2021, the company held over 18.89 million shares (or 4.84% of shares), all amounting to roughly $227.11 million.
The next major institution holding the largest number of shares is Capital Research Global Investors with 13.41 million shares, or about 3.44% of shares outstanding. As of the market price on Jun 29, 2021, these shares were worth $161.14 million.
We also have Invesco Developing Markets Fund and Smallcap World Fund as the top two Mutual Funds with the largest holdings of the OneConnect Financial Technology Co. Ltd. (OCFT) shares. Going by data provided on Apr 29, 2021, Invesco Developing Markets Fund holds roughly 16.48 million shares. This is just over 4.22% of the total shares, with a market valuation of $242.86 million. Data from the same date shows that the other fund manager holds a little less at 8.21 million, or 2.11% of the shares, all valued at about 98.7 million.