The short-term stake in OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) rises 48.4%

OneConnect Financial Technology Co., Ltd. (NYSE: OCFT- Get a rating) was the target of a surge in short-term interest in July. As of July 15, there was short interest totaling 3,800,000 shares, an increase of 48.4% from the June 30 total of 2,560,000 shares. Based on an average daily trading volume of 1,680,000 shares, the short interest ratio is currently 2.3 days. Approximately 1.0% of the company’s shares are sold short.

Financial technology stock performance OneConnect

NYSE:OCFT opened at $1.43 on Friday. The stock has a market capitalization of $557.69 million, a P/E ratio of -2.65 and a beta of 0.09. The company has a 50-day moving average price of $1.59 and a 200-day moving average price of $1.57. OneConnect Financial Technology has a fifty-two week minimum of $0.99 and a fifty-two week maximum of $8.07.

OneConnect Financial Technology (NYSE: OCFT – Get a rating) last reported results on Wednesday, May 25. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analyst consensus estimates of ($0.12). The company posted revenue of $160.51 million for the quarter, versus analyst estimates of $138.62 million. OneConnect Financial Technology posted a negative net margin of 29.89% and a negative return on equity of 31.20%. During the same period of the previous year, the company achieved EPS of ($0.13). Research analysts expect OneConnect Financial Technology to post -0.46 earnings per share for the current fiscal year.

Institutional investors weigh in on financial technology OneConnect

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A number of hedge funds and other institutional investors have recently changed their holdings in OCFT. Daiwa Securities Group Inc. increased its equity stake in OneConnect Financial Technology by 573.2% in Q4. Daiwa Securities Group Inc. now owns 36,547 shares of the company valued at $90,000 after purchasing an additional 31,118 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its equity stake in OneConnect Financial Technology by 51.4% in Q4. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 71,531 shares of the company valued at $180,000 after purchasing an additional 24,299 shares last quarter. SG Americas Securities LLC increased its equity stake in OneConnect Financial Technology by 636.1% in Q4. SG Americas Securities LLC now owns 344,514 shares of the company valued at $851,000 after purchasing an additional 297,709 shares last quarter. Krane Funds Advisors LLC acquired a new equity stake in OneConnect Financial Technology in Q4 valued at $8,268,000. Finally, Rafferty Asset Management LLC increased its equity stake in OneConnect Financial Technology by 241.9% in the 4th quarter. Rafferty Asset Management LLC now owns 922,187 shares of the company valued at $2,278,000 after purchasing an additional 652,445 shares last quarter. 14.91% of the shares are currently held by institutional investors and hedge funds.

About OneConnect Financial Technology

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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 digital retail banking, digital commercial banking, digital auto and life insurance, artificial intelligence, as well as sales management, risk management and operations support services. .

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