OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) shares traded lower over the last trading session, losing -0.16% on 06/09/21. The shares fell to a low of $12.45 before closing at $12.69. Intraday shares traded counted 3.54 million, which was -326.36% lower than its 30-day average trading volume of 829.44K. OCFT’s previous close was $12.71 while the outstanding shares total 368.22M. The stock’s Relative Strength Index (RSI) is 34.22, with weekly volatility at 5.19% and ATR at 1.00. The OCFT stock’s 52-week price range has touched low of $12.58 and a $28.80 high.
Investors have identified the Software – Application company OneConnect Financial Technology Co. Ltd. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $5.13 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
OneConnect Financial Technology Co. Ltd. (OCFT) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. For OCFT, the company has in raw cash 535.43 million on their books with 163.3 million currently as liabilities. How the trend is over time is what investors should be concerned about. The company has a healthy balance sheet as their debt profile has been on a decline. In terms of their assets, the company currently has 1.12 billion total, with 586.77 million as their total liabilities.
Potential earnings growth for OneConnect Financial Technology Co. Ltd. (OCFT)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 08/10/2021 quarter of the year, OneConnect Financial Technology Co. Ltd. recorded a total of 126.49 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 34.2% coming in sequential stages and their sales for the 08/10/2021 quarter reducing by -26.5%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 83.51 million trying to sell their products during the last quarter, with the result yielding a gross income of 42.98 million. This allows shareholders to hold on to 368.22M with the recently reported earning now reading -0.14 cents per share. This is a figure that compared to analystâ€™s prediction for their 08/10/2021 (-0.13 cents a share).
Having a look at the companyâ€™s valuation, the company is expected to record -0.25 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on OCFT sounds very interesting.
Is the stock of OCFT attractive?
In the last 6 months, insiders have changed their ownership in shares of company stock by 0.26%.
6 out of 7 analysts covering the stock have rated it a Buy, while 0 have maintained a Hold recommendation on OneConnect Financial Technology Co. Ltd.. 0 analysts has assigned a Sell rating on the OCFT stock. The 12-month mean consensus price target for the companyâ€™s shares has been set at $22.89.