Freedom Holding Corp. (NASDAQ:FRHC – Get Rating) benefited from a significant drop in short interest during the month of August. As of August 31, there was short interest totaling 366,900 shares, a decrease of 9.4% from the total of 405,000 shares as of August 15. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 102,200 shares, the short interest ratio is currently 3.6 days.

Freedom stock up 1.6%

FRHC opened at $55.42 on Monday. Freedom has a fifty-two week low of $38.17 and a fifty-two week high of $72.43. The company has a debt ratio of 1.70, a quick ratio of 1.81 and a current ratio of 1.81. The company has a fifty-day moving average of $54.70 and a two-hundred-day moving average of $51.04. The stock has a market capitalization of $3.30 billion, a price-earnings ratio of 9.13 and a beta of 1.16.

Freedom (NASDAQ:FRHC – Get Rating) last announced its results on Wednesday, August 10. The company reported earnings per share (EPS) of $0.99 for the quarter, beating the consensus estimate of $0.85 by $0.14. Freedom had a net margin of 50.76% and a return on equity of 38.66%. The company posted revenue of $226.61 million for the quarter, versus analyst estimates of $136.55 million.

Institutional Freedom Trade

Institutional investors have recently changed their stock portfolios. BlackRock Inc. increased its position in Freedom by 4.6% during the first quarter. BlackRock Inc. now owns 90,176 shares of the company worth $5,374,000 after acquiring 4,006 additional shares in the last quarter. Vanguard Group Inc. increased its stake in Freedom by 30.9% in the 1st quarter. Vanguard Group Inc. now owns 67,728 shares of the company valued at $4,037,000 after purchasing an additional 15,977 shares in the last quarter. The Swiss National Bank increased its stake in Freedom by 7.9% in the 1st quarter. The Swiss National Bank now owns 42,300 shares of the company valued at $2,521,000 after buying 3,100 more shares in the last quarter. State Street Corp increased its stake in Freedom by 5.2% in the second quarter. State Street Corp now owns 29,764 shares of the company valued at $1,320,000 after purchasing an additional 1,459 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Freedom by 1.9% in the 4th quarter. Northern Trust Corp now owns 25,548 shares of the company valued at $1,771,000 after buying an additional 466 shares in the last quarter. Institutional investors and hedge funds own 0.95% of the company’s shares.

Analysts set new price targets

Separately, TheStreet upgraded Freedom’s shares from a “c+” rating to a “b-” rating in a Thursday, August 25 report.

Liberty Company Profile

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Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment advisory, securities trading, market making, retail banking, corporate banking, investment and underwriting. The company provides investment brokerage services for exchange-traded and over-the-counter equity and corporate debt securities, money market instruments, exchange-traded options and futures, government bonds and mutual funds; margin lending services secured by securities and cash in the client’s account; various investment education and training courses; investment research services; and commercial banking, including payment cards, digital mortgages and digital auto loans, as well as insurance products.

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