In last trading session, OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) saw 0.3 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $0.63 trading at $0.04 or 7.28% at ring of the bell on the day assigns it a market valuation of $255.76M. That closing price of OCFT’s stock is at a discount of -349.21% from its 52-week high price of $2.83 and is indicating a premium of 25.4% from its 52-week low price of $0.47. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.35 million shares which gives us an average trading volume of 538.88K if we extend that period to 3-months.
For OneConnect Financial Technology Co. Ltd. (OCFT), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.70. Splitting up the data highlights that, out of 5 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 2 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.08 in the current quarter.
OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) trade information
Upright in the green during last session for gaining 7.28%, in the last five days OCFT remained trading in the red while hitting it’s week-highest on Friday, 11/18/22 when the stock touched $0.63 price level, adding 24.99% to its value on the day. OneConnect Financial Technology Co. Ltd.’s shares saw a change of -74.45% in year-to-date performance and have moved -22.57% in past 5-day. OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) showed a performance of 1.77% in past 30-days. Number of shares sold short was 3.03 million shares which calculate 9.11 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $8.72 to the stock, which implies a rise of 92.78% to its current value. Analysts have been projecting $5.71 as a low price target for the stock while placing it at a high target of $12.20. It follows that stock’s current price would drop -1836.51% in reaching the projected high whereas dropping to the targeted low would mean a loss of -806.35% for stock’s current value.
OneConnect Financial Technology Co. Ltd. (OCFT) estimates and forecasts
Statistics highlight that OneConnect Financial Technology Co. Ltd. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -53.25% of value to its shares in past 6 months, showing an annual growth rate of 38.89% while that of industry is 13.30. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 27.30% in the current quarter and calculating 53.30% increase in the next quarter. This year revenue growth is estimated to rise 5.30% from the last financial year’s standing.
1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $170.47 million for the same. And 1 analysts are in estimates of company making revenue of $201.99 million in the next quarter that will end on Dec 2022. Company posted $165.77 million and $196.9 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 2.80% while estimating it to be 2.60% for the next quarter.
In 2022, company’s earnings growth rate is likely to be around 0.00% while estimates for its earnings growth in next 5 years are of 9.19%.
OneConnect Financial Technology Co. Ltd. is more likely to be releasing its next quarterly report between February 22 and February 27 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
OneConnect Financial Technology Co. Ltd. (NYSE:OCFT)’s Major holders
Insiders are in possession of 15.47% of company’s total shares while institution are holding 6.54 percent of that, with stock having share float percentage of 7.74%. Investors also watch the number of corporate investors in a company very closely, which is 6.54% institutions for OneConnect Financial Technology Co. Ltd. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at OCFT for having 4.41 million shares of worth $7.54 million. And as of Jun 29, 2022, it was holding 1.13% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 3.05 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 0.78% of outstanding shares, having a total worth of $5.22 million.
On the other hand, Vanguard International Stock Index-Emerging Markets Stk and Vanguard International Stock Index-Total Intl Stock Indx are the top two Mutual Funds which own company’s shares. As of Jul 30, 2022, the former fund manager was holding 1.74 million shares of worth $2.48 million or 0.45% of the total outstanding shares. The later fund manager was in possession of 1.62 million shares on Jul 30, 2022, making its stake of worth around $2.31 million in the company or a holder of 0.41% of company’s stock.