5 Stocks to Buy As Virus Restrictions Are Lifted in China

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1. Futu Holdings Limited (NASDAQ:FUTU)

Number of Hedge Fund Holders: 11 

Increase in Share Price Over Past Month: 44.61%

Futu Holdings Limited (NASDAQ:FUTU) provides wealth management services. On June 6, the firm posted earnings for the first quarter of 2022, reporting earnings per share of $0.49, beating market estimates by $0.07. The revenue over the period was $209 million, down close to 25% compared to the revenue over the same period last year but beating market estimates by more than $7 million. The total number of paying clients for the firm increased 67.9% year-over-year to 1.33 million at the end of March. 

On June 10, Bank of America analyst Emma Xu upgraded Futu Holdings Limited (NASDAQ:FUTU) stock to Buy from Underperform and raised the price target to $60.60 from $44.50, noting that the firm had multiple positive business developments ahead. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Tiger Global Management LLC is a leading shareholder in Futu Holdings Limited (NASDAQ:FUTU), with 2.4 million shares worth more than $80 million. 

You can also take a peek at 10 Penny Stocks Redditors are Buying in August and 10 Best Nickel Stocks to Buy Now.

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