OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) Brief Interest Update
OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) was the target of a sharp decline in short interest in January. As of January 15, there was short interest totaling 2,420,000 shares, a decrease of 20.4% from the December 31 total of 3,040,000 shares. Based on an average daily volume of 2,170,000 shares, the day-to-cover ratio is currently 1.1 days. Approximately 0.6% of the company’s shares are sold short.
Several hedge funds and other institutional investors have recently bought and sold shares of OCFT. BlackRock Inc. increased its stake in shares of OneConnect Financial Technology by 1,650.3% during Q2. BlackRock Inc. now owns 4,723,092 shares of the company worth $56,771,000 after acquiring 4,453,245 additional shares in the last quarter. Vanguard Group Inc. increased its stake in shares of OneConnect Financial Technology by 145.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,981,782 shares of the company worth $47,860,000 after acquiring an additional 2,357,029 shares last quarter. Marshall Wace LLP increased its stake in shares of OneConnect Financial Technology by 525.9% during Q3. Marshall Wace LLP now owns 2,362,159 shares of the company worth $9,685,000 after acquiring an additional 1,984,727 shares in the last quarter. State Street Corp increased its stake in shares of OneConnect Financial Technology by 428.3% in Q2. State Street Corp now owns 2,124,773 shares of the company worth $25,540,000 after acquiring an additional 1,722,595 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in OneConnect Financial Technology during Q3 for a value of approximately $3,477,000. Hedge funds and other institutional investors own 16.75% of the company’s shares.
Separately, Zacks Investment Research upgraded shares of OneConnect Financial Technology from a “sell” rating to a “hold” rating in a Wednesday, October 6 report. Two investment analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, OneConnect Financial Technology has an average rating of “Buy” and an average price target of $13.63.
NYSE:OCFT opened at $2.00 on Tuesday. OneConnect Financial Technology has a one-year low of $1.73 and a one-year high of $22.66. The company has a market capitalization of $779.99 million, a P/E ratio of -3.77 and a beta of 0.30. The company has a 50-day simple moving average of $2.37 and a 200-day simple moving average of $3.92.
OneConnect Financial Technology (NYSE:OCFT) last released quarterly earnings data on Thursday, November 18. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. The company had revenue of $164.53 million in the quarter. OneConnect Financial Technology posted a negative net margin of 32.79% and a negative return on equity of 27.22%. In the same quarter last year, the company achieved EPS of ($0.10). Sell-side analysts expect OneConnect Financial Technology to post EPS of -0.48 for the current fiscal year.
OneConnect FinTech Company Profile
OneConnect Financial Technology Co, Ltd. provides fintech solutions based on a cloud platform, as well as online information and operational support services for financial institutions in the People’s Republic of China. It offers retail digital banking, financing and services to small and medium-sized enterprises (SMEs), retail and SME banking risk management, automobile insurance operations and services, asset management, asset-liability management, artificial intelligence customer service, core systems and insurance sales. management solutions.
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