OneConnect Financial Technology (NYSE:OCFT) Stock Price Down 1.1% – Here’s Why

OneConnect Financial Technology Co., Ltd. Sponsored ADR (NYSE:OCFT)’s share price traded down 1.1% during trading on Tuesday . The company traded as low as $7.42 and last traded at $7.45. 64,229 shares changed hands during trading, a decline of 21% from the average session volume of 81,448 shares. The stock had previously closed at $7.53.

OneConnect Financial Technology Price Performance

The stock has a fifty day moving average of $7.10 and a 200 day moving average of $5.61. The stock has a market cap of $290.36 million, a price-to-earnings ratio of -4.93 and a beta of 0.50.

OneConnect Financial Technology (NYSE:OCFT) last released its quarterly earnings data on Wednesday, May 28th. The company reported ($0.15) EPS for the quarter. OneConnect Financial Technology had a negative net margin of 20.95% and a negative return on equity of 7.20%. The business had revenue of $50.57 million during the quarter.

Institutional Trading of OneConnect Financial Technology

A number of hedge funds have recently modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of OneConnect Financial Technology during the 1st quarter worth about $179,000. OLD Mission Capital LLC acquired a new position in OneConnect Financial Technology in the 1st quarter valued at $376,000. Finally, E Fund Management Co. Ltd. purchased a new position in OneConnect Financial Technology in the 1st quarter valued at $179,000. Hedge funds and other institutional investors own 4.05% of the company’s stock.

OneConnect Financial Technology Company Profile

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 operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business.