Future FinTech Group Inc. (NASDAQ:FTFT) Short Interest Up 152.2% in June

Future FinTech Group Inc. (NASDAQ:FTFT) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totaling 80,626 shares, a growth of 152.2% from the May 31st total of 31,967 shares. Based on an average daily trading volume, of 289,142 shares, the short-interest ratio is presently 0.3 days. Currently, 1.4% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Future FinTech Group

An institutional investor recently bought a new stake in Future FinTech Group stock. Royal Bank of Canada purchased a new position in shares of Future FinTech Group Inc. (NASDAQ:FTFT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 40,000 shares of the company’s stock, valued at approximately $31,000. Royal Bank of Canada owned about 0.79% of Future FinTech Group at the end of the most recent quarter. 0.19% of the stock is owned by hedge funds and other institutional investors.

Future FinTech Group Stock Performance

NASDAQ FTFT opened at $0.67 on Monday. The business has a fifty day moving average price of $1.14 and a 200 day moving average price of $1.82. Future FinTech Group has a one year low of $0.49 and a one year high of $16.12. The company has a market cap of $3.90 million, a P/E ratio of -0.21 and a beta of 1.77.

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

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.