Future FinTech Group Stock Set to Reverse Split on Monday, July 13th (NASDAQ:FTFT)

Future FinTech Group Inc. (NASDAQ:FTFT)’s stock is scheduled to reverse split before the market opens on Monday, July 13th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, July 12th.

Future FinTech Group Trading Down 9.4%

NASDAQ FTFT traded down $0.05 on Thursday, hitting $0.48. 173,801 shares of the stock traded hands, compared to its average volume of 236,728. The stock has a 50-day moving average of $0.99 and a 200 day moving average of $1.59. Future FinTech Group has a twelve month low of $0.45 and a twelve month high of $16.12. The company has a market capitalization of $2.82 million, a P/E ratio of -0.15 and a beta of 1.82.

Future FinTech Group (NASDAQ:FTFT) last released its earnings results on Friday, May 15th. The company reported ($0.25) EPS for the quarter. The firm had revenue of $0.21 million for the quarter. Future FinTech Group had a negative return on equity of 13.08% and a negative net margin of 37.76%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Future FinTech Group

A hedge fund recently bought a new stake in Future FinTech Group stock. Royal Bank of Canada purchased a new position in Future FinTech Group Inc. (NASDAQ:FTFT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 40,000 shares of the company’s stock, valued at approximately $31,000. Royal Bank of Canada owned about 0.79% of Future FinTech Group at the end of the most recent quarter. Institutional investors and hedge funds own 0.19% of the company’s stock.

Future FinTech Group Company Profile

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.