Future FinTech Group Stock Set to Reverse Split on Monday, August 31st (NASDAQ:FTFT)

Shares of Future FinTech Group Inc. (NASDAQ:FTFT) are scheduled to reverse split on the morning of Monday, August 31st. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, August 30th.

Future FinTech Group Stock Down 14.3%

Future FinTech Group stock traded down $0.10 during trading hours on Thursday, hitting $0.58. 246,500 shares of the company traded hands, compared to its average volume of 298,431. The firm’s 50-day simple moving average is $1.50 and its two-hundred day simple moving average is $3.93. The firm has a market cap of $1.09 million, a P/E ratio of -0.08 and a beta of 1.89. Future FinTech Group has a 1-year low of $0.55 and a 1-year high of $62.08.

Future FinTech Group (NASDAQ:FTFT) last issued its quarterly earnings results on Friday, August 14th. The company reported ($1.26) earnings per share for the quarter. The company had revenue of $0.33 million during the quarter. Future FinTech Group had a negative return on equity of 12.22% and a negative net margin of 157.53%.

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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Trading of Future FinTech Group

An institutional investor recently bought a new stake in Future FinTech Group stock. XTX Topco Ltd bought a new stake in shares of Future FinTech Group Inc. (NASDAQ:FTFT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,901 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned about 0.75% of Future FinTech Group at the end of the most recent reporting period. 0.19% of the stock is currently owned by institutional investors and hedge funds.

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.