OneConnect Financial Technology (OCFT) Scheduled to Post Quarterly Earnings on Wednesday

OneConnect Financial Technology (NYSE:OCFT – Get Rating) is scheduled to be releasing its earnings data after the market closes on Wednesday, May 25th. Analysts expect OneConnect Financial Technology to post earnings of ($0.12) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

OneConnect Financial Technology (NYSE:OCFT – Get Rating) last issued its earnings results on Thursday, February 24th. The company reported ($0.15) earnings per share (EPS) for the quarter. OneConnect Financial Technology had a negative return on equity of 29.06% and a negative net margin of 31.00%. The firm had revenue of $200.24 million during the quarter. On average, analysts expect OneConnect Financial Technology to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of OCFT opened at $1.39 on Wednesday. OneConnect Financial Technology has a 12-month low of $0.99 and a 12-month high of $19.60. The business has a 50-day simple moving average of $1.43 and a two-hundred day simple moving average of $1.95. The stock has a market cap of $542.09 million, a PE ratio of -2.62 and a beta of 0.40.

Several hedge funds have recently modified their holdings of the company. XTX Topco Ltd bought a new stake in shares of OneConnect Financial Technology during the 1st quarter valued at about $41,000. UBS Group AG boosted its position in shares of OneConnect Financial Technology by 368.0% during the 1st quarter. UBS Group AG now owns 52,767 shares of the company’s stock valued at $74,000 after purchasing an additional 41,492 shares in the last quarter. Cibc World Market Inc. boosted its position in shares of OneConnect Financial Technology by 24.6% during the 1st quarter. Cibc World Market Inc. now owns 73,805 shares of the company’s stock valued at $104,000 after purchasing an additional 14,574 shares in the last quarter. Millennium Management LLC bought a new stake in shares of OneConnect Financial Technology during the 4th quarter valued at about $114,000. Finally, Jane Street Group LLC boosted its position in shares of OneConnect Financial Technology by 321.4% during the 1st quarter. Jane Street Group LLC now owns 127,134 shares of the company’s stock valued at $179,000 after purchasing an additional 96,964 shares in the last quarter. 14.91% of the stock is owned by institutional investors.

A number of brokerages have issued reports on OCFT. Zacks Investment Research raised OneConnect Financial Technology from a “sell” rating to a “hold” rating in a report on Thursday, April 21st. JPMorgan Chase & Co. cut OneConnect Financial Technology from a “neutral” rating to an “underweight” rating in a report on Monday, March 14th. Finally, HSBC cut OneConnect Financial Technology from a “buy” rating to a “hold” rating in a research note on Thursday, February 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, OneConnect Financial Technology has an average rating of “Hold” and an average target price of $9.50.

About OneConnect Financial Technology (Get Rating)

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

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