Shares of OneConnect Financial Technology (NYSE:OCFT) fell 5.4%


Shares of OneConnect Financial Technology Co., Ltd. (NYSE:OCFT – Get Rating ) traded down 5.4% during trading on Friday. The company traded as high as $2.10 and last traded at $2.12. 11,907 shares traded hands during trading, down 100% from the session’s average volume of 2,473,097 shares. The stock had previously closed at $2.24.

Separately, JPMorgan Chase & Co. cut shares of OneConnect Financial Technology from a “neutral” rating to an “underperform” rating in a research note on Monday, March 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $9.50, based on data from MarketBeat.

The business’s 50 day moving average is $1.50 and the 200 day moving average is $1.65. The stock has a market cap of $811.18 million, a PE ratio of -3.85 and a beta of 0.09.

OneConnect Financial Technology (NYSE:OCFT – Get Rating ) last posted its quarterly earnings results on Wednesday, May 25th. The company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12). OneConnect Financial Technology had a negative net margin of 29.89% and a negative return on equity of 31.20%. The firm had revenue of $160.51 million during the quarter, compared to analysts’ expectations of $138.62 million. During the same period in the prior year, the company earned ($0.13) EPS. On average, stock analysts expect OneConnect Financial Technology Co., Ltd. to post -0.41 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in OneConnect Financial Technology by 26.1% during the first quarter. Bank of America Corp DE now owns 218,571 shares of the company’s stock valued at $308,000 after buying an additional 45,271 shares during the last quarter. Jane Street Group LLC boosted its holdings in OneConnect Financial Technology by 321.4% in the first quarter. Jane Street Group LLC now owns 127,134 shares of the company’s stock valued at $179,000 after buying an additional 96,964 shares in the last quarter. UBS Group AG boosted its holdings in OneConnect Financial Technology by 368.0% in the first quarter. UBS Group AG now owns 52,767 shares of the company’s stock valued at $74,000 after purchasing an additional 41,492 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in OneConnect Financial Technology by 173.2% in the first quarter. Renaissance Technologies LLC now owns 1,484,124 shares of the company’s stock valued at $2,093,000 after buying an additional 940,910 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in OneConnect Financial Technology during the first quarter valued at about $41,000. The institutional investor owned 14.91% of the company’s stock.

Financial Technology Company Profile OneConnect (NYSE: OCFT)

OneConnect Financial Technology Co., Ltd. provides fintech solutions based on cloud platforms as well as online information and operational support services for financial institutions in the People’s Republic of China. It offers digital retail banking, digital commercial banking, digital auto and life insurance and AI-powered customer services, as well as sales management, risk management and operations support services.

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