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Futu Holdings Ltd. (FUTU) Stock in Decline After a Phenomenal Friday, Here’s the Reason

 Futu Holdings Ltd. (FUTU), a company that operates an online wealth management platform, has slid 5.11% in the premarket trading session. Consequently, FUTU stock was trading at $38.60 when last checked. The decline could be attributed to the profit-taking factor after the stock soared by 16.49% during Friday’s regular trading session to close the day at $40.69. The surge followed the filing of the fiscal year 2021 results by the company.

FUTU FY 2021 Operational Results

On Friday, FUTU filed the results for the fiscal year 2021 with SEC. The total revenue generated during the year was $912 million. The gross profit for the year was $757.6 million, while the total operating expenses for the year stood at $349.5 million. The net income generated during fiscal 2021 was$360.3 million, while the net income per basic and diluted share for the 12 months was $0.30.

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Financial Results

Alongside, on the monetary front, FUTU had total assets of $13.01 billion, while the total liabilities of $10.3 billion on 31st December 2021. The cash and cash equivalents on the said date were $584 million. The total shareholder’s equity on the 31st of December was estimated to be $2.6 billion.

Cash Flows

FUTU also provided an update regarding the cash flows. The net cash generated via the operating activities during the year ended 31st December 2021 was $770.8 million, while the net cash used in investing activities was estimated to be $(123.5) million. The cash generated from the financing activities by the company during the year ended 31st December 2021 was $1.35 billion.

What’s Coming Up for FUTU?

Looking ahead, analysts are holding a positive evaluation for FUTU stock. The short-term signals are pointing in an optimistic direction for the stock despite its existence in a wide falling trend. Hence, at the current level, the stock holds an excellent buying opportunity for investors.

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