Fold Holdings, Inc. (NASDAQ:FLD) Sees Large Decrease in Short Interest

Fold Holdings, Inc. (NASDAQ:FLD) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 703,600 shares, a decrease of 34.9% from the September 30th total of 1,080,000 shares. Currently, 6.6% of the company’s shares are short sold. Based on an average daily volume of 752,900 shares, the short-interest ratio is currently 0.9 days. Based on an average daily volume of 752,900 shares, the short-interest ratio is currently 0.9 days. Currently, 6.6% of the company’s shares are short sold.

Analyst Ratings Changes

FLD has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Fold from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Fold in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald assumed coverage on shares of Fold in a report on Monday, July 28th. They issued an “overweight” rating and a $6.50 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.83.

Fold Trading Down 5.4%

Shares of FLD stock traded down $0.19 during trading hours on Monday, hitting $3.31. 165,254 shares of the company were exchanged, compared to its average volume of 459,844. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.90. Fold has a 1 year low of $2.51 and a 1 year high of $14.00. The firm has a fifty day moving average of $3.69 and a 200 day moving average of $4.08. The firm has a market cap of $154.87 million, a PE ratio of -5.52 and a beta of 0.16.

Fold (NASDAQ:FLD) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.08). The firm had revenue of $8.18 million for the quarter, compared to the consensus estimate of $8.07 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FLD. Geode Capital Management LLC bought a new position in shares of Fold during the second quarter worth about $749,000. Baird Financial Group Inc. purchased a new position in Fold during the second quarter worth about $445,000. Vontobel Holding Ltd. bought a new position in shares of Fold in the third quarter valued at approximately $309,000. Cypress Point Wealth Management LLC bought a new position in Fold in the 3rd quarter valued at $210,000. Finally, Osaic Holdings Inc. purchased a new position in shares of Fold during the 2nd quarter valued at $121,000. 56.89% of the stock is owned by institutional investors.

Fold Company Profile

FTAC Emerald Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, and similar business combination with one or more businesses or assets operating in the clean/renewable energy, water sustainability, agricultural technology, shared economy software, and mobility sectors.