October 5, 2022

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OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Short Interest Update

OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) was the target of a large decline in short interest in January. As of January 15th, there was short interest totalling 2,420,000 shares, a decline of 20.4% from the December 31st total of 3,040,000 shares. Based on an average daily volume of 2,170,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.6% of the company’s stock are sold short.

Several hedge funds and other institutional investors have recently bought and sold shares of OCFT. BlackRock Inc. raised its stake in shares of OneConnect Financial Technology by 1,650.3% during the 2nd quarter. BlackRock Inc. now owns 4,723,092 shares of the company’s stock worth $56,771,000 after acquiring an additional 4,453,245 shares in the last quarter. Vanguard Group Inc. raised 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’s stock worth $47,860,000 after acquiring an additional 2,357,029 shares in the last quarter. Marshall Wace LLP raised its stake in shares of OneConnect Financial Technology by 525.9% during the 3rd quarter. Marshall Wace LLP now owns 2,362,159 shares of the company’s stock worth $9,685,000 after acquiring an additional 1,984,727 shares in the last quarter. State Street Corp raised its stake in shares of OneConnect Financial Technology by 428.3% during the 2nd quarter. State Street Corp now owns 2,124,773 shares of the company’s stock worth $25,540,000 after acquiring an additional 1,722,595 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in OneConnect Financial Technology during the 3rd quarter worth approximately $3,477,000. Hedge funds and other institutional investors own 16.75% of the company’s stock.

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Separately, Zacks Investment Research upgraded shares of OneConnect Financial Technology from a “sell” rating to a “hold” rating in a report on Wednesday, October 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. 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 firm has a market cap of $779.99 million, a P/E ratio of -3.77 and a beta of 0.30. The firm 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 posted its quarterly earnings data on Thursday, November 18th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. The firm had revenue of $164.53 million during the quarter. OneConnect Financial Technology had a negative net margin of 32.79% and a negative return on equity of 27.22%. During the same quarter last year, the firm earned ($0.10) EPS. Sell-side analysts expect that OneConnect Financial Technology will post -0.48 EPS for the current fiscal year.

OneConnect Financial Technology Company Profile

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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