---
title: "OneConnect Financial Technology (NYSE:OCFT) Stock Price Up 2%"
description: "OneConnect Financial Technology (NYSE:OCFT) stock price rose 2% during trading on Tuesday. Citigroup increased their price target for the company from $6.98 to $7.00 and gave it a \"buy\" rating. The st"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/205588785.md"
published_at: "2024-06-05T05:00:02.000Z"
---

# OneConnect Financial Technology (NYSE:OCFT) Stock Price Up 2%

> OneConnect Financial Technology (NYSE:OCFT) stock price rose 2% during trading on Tuesday. Citigroup increased their price target for the company from $6.98 to $7.00 and gave it a "buy" rating. The stock has a market capitalization of $78.39 million and a negative net margin of 10.33%. The company reported ($0.31) EPS for the quarter. OneConnect Financial Technology is a cloud-platform-based Fintech solutions provider in China. Institutional investors recently acquired a 3.40% stake in the company.

OneConnect Financial Technology Co., Ltd. (NYSE:OCFT - Get Free Report)'s stock price rose 2% during trading on Tuesday . The stock traded as high as $2.06 and last traded at $2.01. Approximately 2,991 shares traded hands during trading, a decline of 86% from the average daily volume of 20,640 shares. The stock had previously closed at $1.97.

## Analyst Ratings Changes

Separately, Citigroup increased their price objective on OneConnect Financial Technology from $6.98 to $7.00 and gave the company a "buy" rating in a report on Tuesday, March 19th.

**View Our Latest Analysis on OneConnect Financial Technology**

## OneConnect Financial Technology Stock Up 2.0 %

The firm's 50 day simple moving average is $2.07 and its two-hundred day simple moving average is $2.45. The stock has a market capitalization of $78.39 million, a P/E ratio of -1.46 and a beta of 0.63.

OneConnect Financial Technology (NYSE:OCFT - Get Free Report) last announced its quarterly earnings data on Monday, March 18th. The company reported ($0.31) EPS for the quarter. OneConnect Financial Technology had a negative net margin of 10.33% and a negative return on equity of 10.21%. The firm had revenue of $128.31 million during the quarter, compared to analyst estimates of $117.43 million. As a group, equities research analysts expect that OneConnect Financial Technology Co., Ltd. will post -1.15 earnings per share for the current year.

## Institutional Investors Weigh In On OneConnect Financial Technology

An institutional investor recently bought a new position in OneConnect Financial Technology stock. M&G Plc acquired a new position in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,324,592 shares of the company's stock, valued at approximately $2,941,000. M&G Plc owned approximately 3.40% of OneConnect Financial Technology as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 4.05% of the company's stock.

## OneConnect Financial Technology Company Profile

(Get Free Report)

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.

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
