Future FinTech Group (NASDAQ:FTFT) Releases Earnings Results

Future FinTech Group (NASDAQ:FTFT) announced its earnings results on Friday. The company reported ($1.26) earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $0.33 million during the quarter. Future FinTech Group had a negative net margin of 37.76% and a negative return on equity of 13.08%.

Future FinTech Group Stock Performance

NASDAQ:FTFT traded up $0.01 during mid-day trading on Friday, hitting $0.83. 68,797 shares of the company’s stock traded hands, compared to its average volume of 182,484. Future FinTech Group has a 1 year low of $0.76 and a 1 year high of $62.08. The firm’s 50 day simple moving average is $1.99 and its 200 day simple moving average is $4.40. The company has a market cap of $1.54 million, a PE ratio of -0.07 and a beta of 1.89.

Hedge Funds Weigh In On Future FinTech Group

A hedge fund recently bought a new position in Future FinTech Group stock. Royal Bank of Canada purchased a new stake in Future FinTech Group Inc. (NASDAQ:FTFT) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 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 filing with the SEC. Institutional investors own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

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

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.