OneConnect Financial Technology (NASDAQ:OCFT) Trading Down 20.4%

OneConnect Financial Technology Co. (NASDAQ:OCFT) was down 20.4% during trading on Tuesday . The company traded as low as $12.30 and last traded at $12.48, approximately 1,485,000 shares were traded during mid-day trading. An increase of 96% from the average daily volume of 758,618 shares. The stock had previously closed at $15.68.

A number of research analysts have commented on OCFT shares. Goldman Sachs Group assumed coverage on OneConnect Financial Technology in a research note on Tuesday, January 7th. They issued a “buy” rating and a $15.90 target price on the stock. Bank of America assumed coverage on OneConnect Financial Technology in a research note on Tuesday, January 7th. They set a “buy” rating and a $18.00 price target for the company. KeyCorp assumed coverage on OneConnect Financial Technology in a research note on Tuesday, January 7th. They set an “overweight” rating and a $15.00 price target for the company. Finally, Morgan Stanley assumed coverage on OneConnect Financial Technology in a research note on Tuesday, January 7th. They set an “overweight” rating and a $16.00 price target for the company.

OneConnect Financial Technology Company Profile (NASDAQ:OCFT)

OneConnect Financial Technology Co, Ltd. operates as a technology-as-a-service platform for financial institutions in the People's Republic of China. The company provides cloud-platform-based Fintech solutions, and online information and operating support services. It offers digital retail banking, small and medium enterprises (SME) financing and services, retail banking risk-management, SME banking risk management, auto insurance operations and services, asset management, asset-liability management, artificial intelligence customer service, core systems, and insurance sales management solutions.

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