OneConnect Financial Technology Co. Ltd. (NYSE: OCFT)’S Stock Adds 1.04%, But It May Be Worth Investing In

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OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) price closed higher on Friday, November 12, jumping 1.04% above its previous close.

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A look at the daily price movement shows that the last close reads $2.88, with intraday deals fluctuated between $2.80 and $2.94. Taking into account the 52-week price action we note that the stock hit a 52-week high of $24.95 and 52-week low of $2.79. The stock subtracted -20.27% on its value in the past month.

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OneConnect Financial Technology Co. Ltd., which has a market valuation of $1.12 billion, is expected to release its quarterly earnings report May 11, 2021. Analysts tracking OCFT have forecast the quarterly EPS to shrink by -0.14 per share this quarter, while the same analysts predict the annual EPS to hit -$0.49 for the year 2021 and up to -$0.32 for 2022. In this case, analysts estimate an annual EPS growth of 15.50% for the year and 34.70% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $166.18 million, with the likely lows of $166.18 million and highs of $166.18 million. The average estimate suggests sales growth for the quarter will likely rise by 18.70% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $646.36 million for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to grow 28.20% above that which the company brought in 2021.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give OCFT a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 4 analysts have assigned OCFT a recommendation rating as follows: 2 rate it as a Hold; 2 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the OneConnect Financial Technology Co. Ltd. (OCFT) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Overweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

The overview shows that OCFT’s price is at present -11.60% off the SMA20 and -23.64% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 34.23, with weekly volatility standing at 4.84%. The indicator jumps to 6.34% when calculated based on the past 30 days. OneConnect Financial Technology Co. Ltd. (NYSE:OCFT)’s beta value is holding at 0, while the average true range (ATR) indicator is currently reading 0.20. Considering analysts have assigned the stock a price target range of $3.40-$11.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $6.70. Based on this estimate, we see that current price is roughly -16.84% off the estimated low and -278.01% off the forecast high. Investors will no doubt be excited to see the share price fall to $6.20, which is the median consensus price, and at that level OCFT would be -113.06% from current price.

An analysis of the OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) stock in terms of its daily trading volume indicates that the 3-month average is 1.42 million.

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Current records show that the company has 369.48M in outstanding shares. The insiders’ percentage holdings are 0.26% of outstanding shares while the percentage share held by institutions stands at 18.40%. But the -85.24% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.