E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 29,871 shares of the company’s stock, valued at approximately $359,000.
Several other large investors also recently modified their holdings of the stock. US Bancorp DE increased its stake in OneConnect Financial Technology by 56.2% in the 1st quarter. US Bancorp DE now owns 2,231 shares of the company’s stock valued at $33,000 after buying an additional 803 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in OneConnect Financial Technology by 29.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,107 shares of the company’s stock valued at $149,000 after buying an additional 2,311 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in OneConnect Financial Technology in the 4th quarter valued at $154,000. Sei Investments Co. increased its stake in OneConnect Financial Technology by 50.7% in the 1st quarter. Sei Investments Co. now owns 15,148 shares of the company’s stock valued at $224,000 after buying an additional 5,098 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of OneConnect Financial Technology during the 1st quarter worth about $271,000. Institutional investors and hedge funds own 16.15% of the company’s stock.
Get OneConnect Financial Technology alerts: NYSE OCFT traded down $0.03 during trading on Friday, reaching $4.78. The company’s stock had a trading volume of 2,510,885 shares, compared to its average volume of 1,015,077. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -68.29 and a beta of 0.40. OneConnect Financial Technology Co., Ltd. has a 12 month low of $4.64 and a 12 month high of $24.95. The company has a 50 day moving average of $9.84.
OneConnect Financial Technology (NYSE:OCFT) last posted its quarterly earnings data on Monday, May 10th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.67). The business had revenue of $126.43 million during the quarter, compared to the consensus estimate of $146.81 million. OneConnect Financial Technology had a negative net margin of 7.59% and a negative return on equity of 5.32%. Sell-side analysts forecast that OneConnect Financial Technology Co., Ltd. will post -0.47 EPS for the current year.
Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of OneConnect Financial Technology from a “hold” rating to a “sell” rating in a research note on Saturday, August 7th. Morgan Stanley lowered shares of OneConnect Financial Technology from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $19.00 to $7.50 in a research note on Wednesday, August 4th. KeyCorp lowered their price objective on shares of OneConnect Financial Technology from $24.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, August 5th. Finally, CLSA reduced their target price on shares of OneConnect Financial Technology from $21.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $19.07.
About OneConnect Financial Technology
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, small and medium enterprises (SME) financing and services, retail and SME banking risk-management, auto insurance operations and services, asset management, asset-liability management, artificial intelligence customer service, core systems, and insurance sales management solutions.
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