Fang Holdings Ltd (NYSE:SFUN)’s share price shot up 14.1% during mid-day trading on Tuesday . The company traded as high as $5.58 and last traded at $5.58. 9,423,101 shares changed hands during trading, an increase of 285% from the average session volume of 2,450,708 shares. The stock had previously closed at $4.89.
A number of research firms have issued reports on SFUN. BidaskClub upgraded Fang from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 7th. Zacks Investment Research upgraded Fang from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a research note on Thursday, November 23rd. Bank of America restated a “buy” rating and issued a $4.63 target price (down previously from $5.30) on shares of Fang in a research note on Tuesday, December 26th. Finally, ValuEngine downgraded Fang from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $4.79.
The company has a market capitalization of $2,470.00, a P/E ratio of -266.50 and a beta of 1.54. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.03 and a quick ratio of 1.03.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in Fang by 5.5% in the second quarter. Wells Fargo & Company MN now owns 42,686 shares of the information services provider’s stock valued at $158,000 after purchasing an additional 2,223 shares during the last quarter. Profund Advisors LLC lifted its stake in Fang by 21.9% in the second quarter. Profund Advisors LLC now owns 46,110 shares of the information services provider’s stock valued at $171,000 after purchasing an additional 8,285 shares during the last quarter. Intellectus Partners LLC purchased a new position in Fang in the second quarter valued at approximately $186,000. BB&T Securities LLC lifted its stake in Fang by 445.5% in the second quarter. BB&T Securities LLC now owns 55,847 shares of the information services provider’s stock valued at $207,000 after purchasing an additional 45,609 shares during the last quarter. Finally, Pictet Asset Management Ltd. purchased a new position in Fang in the third quarter valued at approximately $325,000. Hedge funds and other institutional investors own 45.34% of the company’s stock.
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Fang Holdings Limited, formerly SouFun Holdings Limited, operates as a real estate Internet portal in China. The Company’s Websites and mobile applications support active online communities and networks of users seeking information on, and services for, the real estate and home-related sectors in China.
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