Future FinTech Group Inc. (NASDAQ:FTFT) Stock Short Interest Falls 79.4%

Future FinTech Group Inc. (NASDAQ:FTFT) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 193,374 shares, a decrease of 79.4% from the September 15th total of 938,799 shares. Based on an average trading volume of 2,580,424 shares, the days-to-cover ratio is presently 0.1 days. Approximately 2.1% of the shares of the company are sold short.

Future FinTech Group Price Performance

FTFT stock opened at $3.09 on Tuesday. Future FinTech Group has a fifty-two week low of $1.22 and a fifty-two week high of $151.68. The stock has a market capitalization of $28.97 million, a price-to-earnings ratio of -0.10 and a beta of 1.70. The business’s fifty day moving average price is $3.38 and its two-hundred day moving average price is $11.27.

Future FinTech Group (NASDAQ:FTFT) last announced its earnings results on Friday, August 14th. The company reported ($5.04) earnings per share (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 business had revenue of $0.33 million during the quarter.

Wall Street Analyst Weigh In

Several equities analysts have commented on FTFT shares. Wall Street Zen upgraded shares of Future FinTech Group to a “sell” rating in a report on Saturday, September 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Future FinTech Group in a research note on Monday, September 21st. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Future FinTech Group Company Profile

Future FinTech Group Inc is a financial technology and blockchain company traded on the Nasdaq under the symbol FTFT. The company develops and operates businesses connected with digital assets, blockchain applications, online commerce and financial services.

Its activities have included the Chain Cloud Mall, a blockchain-based online shopping platform, as well as cryptocurrency mining and digital-asset-related services. The company has also explored digital-asset exchanges, payment solutions and other fintech initiatives through subsidiaries and strategic investments.

Future FinTech was formerly known as SkyPeople Fruit Juice, a company associated with fruit juice production and related agricultural businesses in China.