Fold (NASDAQ:FLD) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Fold (NASDAQ:FLD) from a hold rating to a sell rating in a report published on Friday.

Separately, Cantor Fitzgerald assumed coverage on Fold in a report on Monday, July 28th. They set an “overweight” rating and a $6.50 price objective for the company. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $7.83.

Fold Price Performance

FLD stock opened at $3.68 on Friday. The stock’s 50 day simple moving average is $3.82 and its 200 day simple moving average is $4.37. Fold has a fifty-two week low of $2.51 and a fifty-two week high of $14.00. 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 (NASDAQ:FLD) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The company had revenue of $8.18 million during the quarter, compared to analyst estimates of $8.07 million.

Institutional Trading of Fold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new position in shares of Fold in the second quarter valued at approximately $25,000. FNY Investment Advisers LLC bought a new position in shares of Fold in the second quarter valued at approximately $29,000. North Capital Inc. bought a new position in shares of Fold in the second quarter valued at approximately $30,000. Harvest Portfolios Group Inc. bought a new position in shares of Fold in the second quarter valued at approximately $43,000. Finally, Van Hulzen Asset Management LLC bought a new position in shares of Fold in the second quarter valued at approximately $43,000. 56.89% of the stock is owned by institutional investors.

About Fold

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.