Future FinTech Group Inc. (NASDAQ:FTFT) Sees Large Drop in Short Interest

Future FinTech Group Inc. (NASDAQ:FTFT) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totaling 14,863 shares, a drop of 54.4% from the July 15th total of 32,560 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 245,838 shares, the short-interest ratio is presently 0.1 days.

Future FinTech Group Trading Up 1.5%

FTFT stock traded up $0.01 during mid-day trading on Friday, hitting $0.83. The stock had a trading volume of 68,797 shares, 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 company has a fifty day moving average of $1.99 and a 200 day moving average of $4.40. The stock has a market capitalization of $1.54 million, a price-to-earnings ratio of -0.07 and a beta of 1.89.

Future FinTech Group (NASDAQ:FTFT) last released its quarterly earnings data on Friday, August 14th. The company reported ($1.26) earnings per share (EPS) for the quarter. The business 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%.

Institutional Investors Weigh In On Future FinTech Group

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

Wall Street Analysts Forecast Growth

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, According to MarketBeat, the company presently 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.