Freedom (NASDAQ:FRHC) Stock Price Up 6.6% – Time to Buy?

Shares of Freedom Holding Corp. (NASDAQ:FRHC) shot up 6.6% on Friday . The company traded as high as $118.72 and last traded at $119.4550. 83,049 shares were traded during mid-day trading, a decline of 28% from the average session volume of 115,134 shares. The stock had previously closed at $112.03.

Analysts Set New Price Targets

FRHC has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Freedom in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Freedom from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Loop Capital set a $59.00 price objective on shares of Freedom in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell” and an average price target of $59.00.

Freedom Price Performance

The company’s 50 day simple moving average is $125.73 and its 200 day simple moving average is $146.87. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $7.32 billion, a PE ratio of 5,982.50 and a beta of 0.84.

Freedom (NASDAQ:FRHC) last announced its quarterly earnings data on Monday, February 9th. The company reported $1.25 earnings per share for the quarter. Freedom had a net margin of 0.13% and a return on equity of 0.21%. The business had revenue of $628.62 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its stake in Freedom by 290.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 207 shares of the company’s stock worth $25,000 after acquiring an additional 154 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Freedom by 111.7% during the 4th quarter. Wells Fargo & Company MN now owns 506 shares of the company’s stock worth $62,000 after purchasing an additional 267 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Freedom by 4,426.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 679 shares of the company’s stock worth $117,000 after purchasing an additional 664 shares during the period. Barclays PLC increased its position in Freedom by 600.8% during the 4th quarter. Barclays PLC now owns 904 shares of the company’s stock worth $110,000 after purchasing an additional 775 shares in the last quarter. Finally, CFC Planning Co LLC purchased a new position in Freedom in the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 1.26% of the company’s stock.

Freedom Company Profile

Freedom Holding Corp (NASDAQ: FRHC) is a diversified financial services holding company that provides a broad range of brokerage, trading, investment banking, and asset management services. Through its subsidiaries, the company caters to retail, institutional, and corporate clients by offering access to global capital markets, equity and fixed-income trading, and research-driven investment strategies.

The firm’s product suite includes online and over-the-counter brokerage platforms, margin lending, securities underwriting, and M&A advisory services.