During the last session, OneConnect Financial Technology Co. Ltd. (NYSE:OCFT)’s traded shares were 1.11 million. At the end of the trading day, the stock’s price was $1.46, reflecting an intraday loss of -6.41% or -$0.1. The 52-week high for the OCFT share is $12.21, that puts it down -736.3 from that peak though still a striking 32.19% gain since the share price plummeted to a 52-week low of $0.99. The company’s market capitalization is $557.02M, and the average trade volume was 1.86 million shares over the past three months.
OneConnect Financial Technology Co. Ltd. (OCFT) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.80. OCFT has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.1.
OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) trade information
OneConnect Financial Technology Co. Ltd. (OCFT) registered a -6.41% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -6.41% in intraday trading to $1.46 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is 8.15%, and it has moved by 6.57% in 30 days. Based on these gigs, the overall price performance for the year is -87.27%.
The consensus price target of analysts on Wall Street is $12.93, which implies an increase of 88.71% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9.43 and $16.77 respectively. As a result, OCFT is trading at a discount of -1048.63% off the target high and -545.89% off the low.
OneConnect Financial Technology Co. Ltd. (OCFT) estimates and forecasts
Statistics show that OneConnect Financial Technology Co. Ltd. has outperformed its competitors in share price, compared to the industry in which it operates. OneConnect Financial Technology Co. Ltd. (OCFT) shares have gone down -34.23% during the last six months, with a year-to-date growth rate more than the industry average at 24.07% against 14.50. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 23.10% this quarter and then jump 28.60% in the quarter after that. In the rating firms’ projections, revenue will increase 15.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $139.31 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $165.01 million by the end of Jun 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $126.57 million and $168.13 million respectively. In this case, analysts expect current quarter sales to grow by 10.10% and then drop by -1.90% in the coming quarter.
While earnings are projected to return 0.00% in 2022, the next five years will return 9.19% per annum.
OneConnect Financial Technology Co. Ltd. is due to release its next quarterly earnings between January 31 and February 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
OneConnect Financial Technology Co. Ltd. (NYSE:OCFT)’s Major holders
OneConnect Financial Technology Co. Ltd. insiders own 15.47% of total outstanding shares while institutional holders control 14.65%, with the float percentage being 17.33%. Invesco Ltd. is the largest shareholder of the company, while 111 institutions own stock in it. As of Dec 30, 2021, the company held over 9.43 million shares (or 2.42% of all shares), a total value of $23.3 million in shares.
The next largest institutional holding, with 7.35 million shares, is of Capital Research Global Investors’s that is approximately 1.89% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $18.16 million.
Also, the Mutual Funds coming in first place with the largest holdings of OneConnect Financial Technology Co. Ltd. (OCFT) shares are Invesco Developing Markets Fund and Smallcap World Fund. Data provided on Jan 30, 2022 indicates that Invesco Developing Markets Fund owns about 7.13 million shares. This amounts to just over 1.83 percent of the company’s overall shares, with a $14.26 million market value. The same data shows that the other fund manager holds slightly less at 5.97 million, or about 1.53% of the stock, which is worth about $14.74 million.