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

Future FinTech Group Inc. (NASDAQ:FTFT) shares are 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 NASDAQ:FTFT traded down $0.10 during mid-day trading on Thursday, reaching $0.58. The company had a trading volume of 246,500 shares, compared to its average volume of 72,669. The firm has a market cap of $1.09 million, a price-to-earnings ratio of -0.08 and a beta of 1.89. The company’s 50-day moving average price is $1.50 and its 200-day moving average price is $3.93. Future FinTech Group has a one year low of $0.55 and a one year high of $62.08.

Future FinTech Group (NASDAQ:FTFT) last posted its quarterly earnings data on Friday, August 14th. The company reported ($1.26) EPS for the quarter. Future FinTech Group had a negative net margin of 157.53% and a negative return on equity of 12.22%. The firm had revenue of $0.33 million during the quarter.

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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Future FinTech Group

An institutional investor recently bought a new stake in Future FinTech Group stock. Royal Bank of Canada acquired a new stake in shares of Future FinTech Group Inc. (NASDAQ:FTFT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 40,000 shares of the company’s stock, valued at approximately $31,000. Royal Bank of Canada owned approximately 0.79% of Future FinTech Group as of its most recent filing with the SEC. Hedge funds and other institutional investors own 0.19% of the company’s stock.

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.