Freedom (NASDAQ:FRHC) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Freedom (NASDAQ:FRHC) from a hold rating to a sell rating in a research report released on Saturday.

A number of other equities analysts have also recently weighed in on FRHC. Loop Capital set a $100.00 price target on shares of Freedom in a research note on Thursday, December 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Freedom in a report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Freedom currently has an average rating of “Sell” and a consensus price target of $100.00.

Freedom Stock Performance

Shares of FRHC stock opened at $124.97 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $138.97 and a 200-day simple moving average of $155.95. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 2,082.83 and a beta of 0.91. Freedom has a 12-month low of $111.85 and a 12-month high of $194.01.

Freedom (NASDAQ:FRHC) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.63 earnings per share for the quarter. The firm had revenue of $526.11 million for the quarter. Freedom had a return on equity of 0.38% and a net margin of 0.23%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. First Trust Advisors LP acquired a new stake in Freedom during the 3rd quarter valued at $31,591,000. Geode Capital Management LLC raised its position in shares of Freedom by 198.5% in the second quarter. Geode Capital Management LLC now owns 159,904 shares of the company’s stock valued at $23,350,000 after buying an additional 106,338 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Freedom by 648.1% during the first quarter. Millennium Management LLC now owns 121,942 shares of the company’s stock valued at $16,117,000 after buying an additional 105,641 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Freedom by 214.4% during the first quarter. Goldman Sachs Group Inc. now owns 75,018 shares of the company’s stock valued at $9,915,000 after buying an additional 51,159 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Freedom by 188.6% during the third quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company’s stock worth $13,094,000 after acquiring an additional 49,712 shares during the last quarter. 1.26% of the stock is currently owned by institutional investors and hedge funds.

About Freedom

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.