Short Interest in Future FinTech Group Inc. (NASDAQ:FTFT) Drops By 60.4%

Future FinTech Group Inc. (NASDAQ:FTFT) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 48,346 shares, a drop of 60.4% from the April 30th total of 122,080 shares. Based on an average trading volume of 97,894 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.8% of the company’s stock are sold short.

Future FinTech Group Trading Up 0.8%

Shares of NASDAQ:FTFT opened at $1.21 on Friday. Future FinTech Group has a 12-month low of $1.00 and a 12-month high of $16.12. The business’s fifty day simple moving average is $1.31 and its 200-day simple moving average is $2.40. The company has a market capitalization of $7.10 million, a PE ratio of -0.38 and a beta of 1.84.

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

Institutional Trading of Future FinTech Group

A hedge fund recently bought a new stake in Future FinTech Group stock. Royal Bank of Canada acquired a new position in Future FinTech Group Inc. (NASDAQ:FTFT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period. 0.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Future FinTech Group in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Future FinTech Group 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.