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OneConnect Financial Technology Co., Ltd. (NYSE:OCFT – Get Rating)’s stock is set to reverse split on Monday, December 12th. The 1-10 reverse split was announced on Monday, December 12th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 12th.
OneConnect Financial Technology Stock Performance
Shares of OCFT opened at $0.73 on Friday. The stock has a fifty day moving average price of $0.71 and a two-hundred day moving average price of $1.15. OneConnect Financial Technology has a 52-week low of $0.47 and a 52-week high of $2.83. The company has a market cap of $282.74 million, a price-to-earnings ratio of -1.65 and a beta of 0.27.
OneConnect Financial Technology (NYSE:OCFT – Get Rating) last issued its quarterly earnings data on Thursday, November 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. OneConnect Financial Technology had a negative return on equity of 27.87% and a negative net margin of 23.60%. The firm had revenue of $156.20 million during the quarter, compared to the consensus estimate of $147.27 million. As a group, research analysts predict that OneConnect Financial Technology will post -0.33 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. HSBC restated a “hold” rating on shares of OneConnect Financial Technology in a research report on Thursday, August 18th. Citigroup dropped their target price on OneConnect Financial Technology from $1.85 to $1.59 in a research report on Thursday, August 18th.
Institutional Investors Weigh In On OneConnect Financial Technology
A number of institutional investors and hedge funds have recently added to or reduced their stakes in OCFT. Eaton Vance Management increased its holdings in OneConnect Financial Technology by 87.5% in the third quarter. Eaton Vance Management now owns 36,438 shares of the company’s stock valued at $27,000 after purchasing an additional 17,000 shares during the last quarter. US Bancorp DE increased its holdings in OneConnect Financial Technology by 4,262.4% in the third quarter. US Bancorp DE now owns 50,298 shares of the company’s stock valued at $36,000 after purchasing an additional 49,145 shares during the last quarter. Alliancebernstein L.P. bought a new stake in OneConnect Financial Technology in the third quarter valued at about $40,000. XTX Topco Ltd bought a new stake in OneConnect Financial Technology in the first quarter valued at about $41,000. Finally, Asset Management One Co. Ltd. increased its holdings in OneConnect Financial Technology by 57.4% in the third quarter. Asset Management One Co. Ltd. now owns 59,289 shares of the company’s stock valued at $42,000 after purchasing an additional 21,618 shares during the last quarter. Institutional investors own 5.74% of the company’s stock.
OneConnect Financial Technology Company Profile
(Get Rating)
OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It offers digital retail banking, digital commercial banking, digital auto insurance and life insurance, and artificial intelligence customer services, as well as sales management, risk management, and operation support services.
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