Future FinTech Group Inc. (NASDAQ:FTFT) Short Interest Up 272.5% in August

Future FinTech Group Inc. (NASDAQ:FTFT) was the recipient of a large growth in short interest in August. As of August 14th, there was short interest totaling 55,361 shares, a growth of 272.5% from the July 30th total of 14,863 shares. Currently, 3.0% of the company’s shares are sold short. Based on an average daily trading volume, of 77,467 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On Future FinTech Group

A hedge fund recently bought a new stake in Future FinTech Group stock. Royal Bank of Canada acquired a new stake in shares of Future FinTech Group Inc. (NASDAQ:FTFT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing. 0.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Future FinTech Group in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Future FinTech Group Trading Down 0.3%

Shares of NASDAQ FTFT opened at $0.68 on Thursday. The firm has a market capitalization of $1.27 million, a P/E ratio of -0.09 and a beta of 1.89. The firm’s 50-day moving average price is $1.54 and its 200-day moving average price is $3.97. Future FinTech Group has a 1-year low of $0.59 and a 1-year high of $62.08.

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