TF International launches Fangdd Network Group Ltd. [DUO]’s coverage at Buy with a $18.91 price target

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TF International launched its Fangdd Network Group Ltd. [NASDAQ:DUO] rating to the equivalent of ‎Buy and assigned the price target of $18.91, in a research note dated December 30, 2020. That figure ‎represents around a 160.11% premium from where the company’s shares closed on Tuesday.

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Is Fangdd Network Group Ltd. [NASDAQ:DUO] a Good Buy Right Now?

It should be noted ‎that DUO technical indicators for short, intermediate as well as long term progress have placed an ‎overall average of 64% as Sell. The average signal changed from 8% Sell in the last week and compares ‎with 40% Sell in the past month. Data from Fangdd Network Group Ltd.’s Trend Spotter indicated that ‎the signals were Rising. The stock current average is 0.68 million shares in the past 20 days and the ‎short term average signal indicates a Hold. In the last 50 days, the average trading volume was 0.29 ‎million shares while the medium term average advocated for 100% Sell. The average long-term signal ‎stands at 100% Sell and the 100-day average volume stands at 0.17 million shares.‎

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DUO Price Performance

On Wall Street, Fangdd Network Group Ltd. [NASDAQ:DUO] ‎finished Tuesday’s session up 0.55% at $7.27. The stock went up to $7.39 at the same session while its ‎lowest single day price was $7.10. In the last five days, it saw a fall of about -9.35%, Fangdd Network ‎Group Ltd. shares dropped by almost -53.16% since the beginning of the year. However, the share ‎price has dropped to as low as -94.37% below its one year high. On 06/09/20, the company shares ‎recorded $129.04, the highest single-day price it has got to in the last 52-weeks and a 52-week low was ‎seen on 03/16/20, the same year at $5.66. The company’s shares have declined by -43.42% in the past ‎year. The 50-day SMA achieved is $7.38 while the 200-day SMA is $8.95. ‎

DUO Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is ‎perceived around 7.12 level, and in case of violation of this particular level, it will cause more drop to ‎‎6.96 level. On the upper level, 7.54 is still the key resistance. The stock may increase to the subsequent ‎resistance at 7.41. The Relative Strength Index (RSI) pinned on the 14-day chart is 43.72, implying a ‎neutral technical stance while the MACD stands at -0.55, meaning price will decrease in the next ‎trading period. Percent R indicator moved to 92.33%, implying bearish price movement. Stochastic %K ‎at 5.89% suggest selling the stock.‎

What is the short interest in Fangdd Network Group Ltd.?

Short interest in the Fangdd ‎Network Group Ltd. stock has plunged, decreasing by 57330.0 shares to total 61970.0 shares on Dec 14, ‎‎2020. The interest had seen shares on Nov 12, 2020 stand at 4640.0, data from Yahoo Finance shows. ‎The increase of 92.51% suggests the stock saw some increased bearish sentiment. ‎

DUO Earnings Forecast For The Current Quarter

Fangdd Network Group Ltd. [DUO] is ‎expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates ‎give the company expected revenues of $249.05M and an earnings per share of $0.67 for Dec 2020. ‎Looking further ahead, the company is expected to report revenue of $139.09M at an EPS of -$0.05 for ‎Mar 2021. The estimates represent upside of 49.80% and 102.90% in the company’s revenue and ‎earnings per share, respectively, on a year-on-year basis.‎

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DUO Earnings Estimates For The Current ‎Year

For the financial year, Fangdd Network Group Ltd. [NASDAQ:DUO] is expected to bring in ‎revenue of $673.76M. The returns are nearly $152.72 million higher than the company’s actual revenue ‎recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.34, lower than that of ‎FY19 by -$1.12. Estimates put this year’s earnings growth at -143.60%, 261.80% for the next. As for ‎sales, forecasts are for an increase of 29.30% in the current fiscal year and a further 49.80% over the ‎following year.‎


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