Future FinTech Group (NASDAQ:FTFT) Shares to Reverse Split on Monday, July 13th

Future FinTech Group Inc. (NASDAQ:FTFT) shares are going to reverse split before the market opens on Monday, July 13th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, July 12th.

Future FinTech Group Stock Down 9.4%

NASDAQ FTFT traded down $0.05 during trading on Thursday, hitting $0.48. 173,801 shares of the stock traded hands, compared to its average volume of 103,663. The company has a market capitalization of $2.82 million, a P/E ratio of -0.15 and a beta of 1.82. The firm has a 50-day simple moving average of $0.99 and a 200-day simple moving average of $1.59. Future FinTech Group has a 12-month low of $0.45 and a 12-month high of $16.12.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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, Future FinTech Group presently has a consensus rating of “Sell”.

Institutional Trading of 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 Future FinTech Group Inc. (NASDAQ:FTFT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 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 currently owned by institutional investors.

Future FinTech Group Company Profile

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.