Fold (NASDAQ:FLD) Raised to “Hold” at Wall Street Zen

Fold (NASDAQ:FLD) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also issued reports about the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Fold in a research note on Wednesday, October 8th. Cantor Fitzgerald started coverage on shares of Fold in a research note on Monday, July 28th. They issued an “overweight” rating and a $6.50 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.83.

Fold Stock Performance

Shares of NASDAQ:FLD opened at $3.85 on Friday. The firm’s 50 day moving average price is $3.74 and its 200 day moving average price is $4.14. 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 issued its earnings results on Tuesday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.08). The company had revenue of $8.18 million for the quarter, compared to analysts’ expectations of $8.07 million.

Hedge Funds Weigh In On Fold

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC purchased a new position in shares of Fold during the second quarter worth approximately $749,000. Baird Financial Group Inc. purchased a new position in shares of Fold during the second quarter worth approximately $445,000. Cypress Point Wealth Management LLC purchased a new position in shares of Fold during the third quarter worth approximately $210,000. Osaic Holdings Inc. purchased a new position in shares of Fold during the second quarter worth approximately $121,000. Finally, DLD Asset Management LP purchased a new position in shares of Fold during the second quarter worth approximately $102,000. 56.89% of the stock is currently owned by hedge funds and other 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.