Short Interest in Future FinTech Group Inc. (NASDAQ:FTFT) Decreases By 54.4%

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

Future FinTech Group Price Performance

FTFT stock traded up $0.01 during mid-day trading on Friday, reaching $0.83. The company had a trading volume of 68,797 shares, compared to its average volume of 182,484. The firm has a 50 day moving average of $1.99 and a 200 day moving average of $4.40. The company has a market capitalization of $1.54 million, a PE ratio of -0.07 and a beta of 1.89. Future FinTech Group has a 12 month low of $0.76 and a 12 month high of $62.08.

Future FinTech Group (NASDAQ:FTFT) last issued its earnings results on Friday, August 14th. The company reported ($1.26) earnings per share for the quarter. The firm had revenue of $0.33 million for the quarter. Future FinTech Group had a negative net margin of 37.76% and a negative return on equity of 13.08%.

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 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 purchased 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 quarter. 0.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Future FinTech Group in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Future FinTech Group has a consensus rating of “Sell”.

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.