Future FinTech Group Inc. (NASDAQ:FTFT – Get Free Report) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 32,456 shares, a decrease of 59.7% from the June 15th total of 80,626 shares. Based on an average daily trading volume, of 143,557 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.6% of the company’s shares are sold short.
Institutional Inflows and Outflows
A hedge fund recently bought a new position in Future FinTech Group stock. Royal Bank of Canada acquired a new position in shares of Future FinTech Group Inc. (NASDAQ:FTFT – Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 40,000 shares of the company’s stock, valued at approximately $31,000. Royal Bank of Canada owned 0.79% of Future FinTech Group as of its most recent SEC filing. Institutional investors own 0.19% of the company’s stock.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Future FinTech Group in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.
Future FinTech Group Stock Down 5.5%
FTFT stock traded down $0.09 during trading on Wednesday, hitting $1.55. The company had a trading volume of 128,235 shares, compared to its average volume of 30,614. Future FinTech Group has a 52-week low of $1.51 and a 52-week high of $62.08. The company has a 50 day simple moving average of $3.70 and a 200-day simple moving average of $6.09. The firm has a market capitalization of $2.90 million, a P/E ratio of -0.49 and a beta of 1.82.
Future FinTech Group (NASDAQ:FTFT – Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported ($1.00) earnings per share (EPS) for the quarter. The company had revenue of $0.21 million during the quarter. Future FinTech Group had a negative net margin of 37.76% and a negative return on equity of 13.08%.
About Future FinTech Group
Future FinTech Group Inc, incorporated in 2010 and headquartered in Shanghai, China, is an investment holding company listed on the NASDAQ under the symbol FTFT. Since its initial public offering in April 2017, the company has pursued a diversified growth strategy that spans beverage and agricultural production, digital asset operations, and consumer financial services. Future FinTech’s business model centers on acquiring and developing brands and technologies that align with evolving consumer and industrial trends.
In its beverage and agriculture segment, Future FinTech develops, manufactures and distributes a range of functional beverages, including coffee products under the CBK brand and hemp-infused offerings under the Hemp & Coffee label.
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