Future FinTech Group Shares Scheduled to Reverse Split on Monday, August 31st (NASDAQ:FTFT)

Future FinTech Group Inc. (NASDAQ:FTFTFree Report)’s stock is going to reverse split before the market opens on Monday, August 31st. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 30th.

Future FinTech Group Trading Down 14.3%

Shares of FTFT traded down $0.10 during mid-day trading on Thursday, reaching $0.58. The company’s stock had a trading volume of 246,500 shares, compared to its average volume of 72,669. Future FinTech Group has a 52 week low of $0.55 and a 52 week high of $62.08. The company’s fifty day moving average price is $1.50 and its two-hundred day moving average price is $3.93. The stock has a market cap of $1.09 million, a PE ratio of -0.08 and a beta of 1.89.

Future FinTech Group (NASDAQ:FTFTGet Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($1.26) earnings per share for the quarter. Future FinTech Group had a negative return on equity of 12.22% and a negative net margin of 157.53%.The business had revenue of $0.33 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Future FinTech Group in a research report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Read Our Latest Stock Analysis on FTFT

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Future FinTech Group stock. XTX Topco Ltd acquired a new stake in shares of Future FinTech Group Inc. (NASDAQ:FTFTFree Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 25,901 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned approximately 0.75% of Future FinTech Group as of its most recent SEC filing. 0.19% of the stock is owned by hedge funds and other institutional investors.

About Future FinTech Group

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Future FinTech Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Future FinTech Group and related companies with MarketBeat.com's FREE daily email newsletter.