Short Interest in Future FinTech Group Inc. (NASDAQ:FTFT) Expands By 248.9%

Future FinTech Group Inc. (NASDAQ:FTFT) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 193,133 shares, a growth of 248.9% from the August 15th total of 55,361 shares. Based on an average daily trading volume, of 1,589,747 shares, the short-interest ratio is presently 0.1 days. Approximately 2.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Future FinTech Group

An institutional investor recently bought a new stake in Future FinTech Group stock. XTX Topco Ltd bought a new position in shares of Future FinTech Group Inc. (NASDAQ:FTFT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.19% of the stock is currently owned by hedge funds and other institutional investors.

Future FinTech Group Stock Performance

FTFT stock traded up $0.83 on Friday, reaching $2.88. The company had a trading volume of 52,745,949 shares, compared to its average volume of 5,688,624. The company’s fifty day moving average is $4.04 and its 200 day moving average is $13.98. The company has a market cap of $27 million, a P/E ratio of -0.10 and a beta of 1.80. Future FinTech Group has a 1 year low of $1.22 and a 1 year high of $248.32.

Future FinTech Group (NASDAQ:FTFT) last released its quarterly earnings results on Friday, August 14th. The company reported ($5.04) earnings per share for the quarter. Future FinTech Group had a negative return on equity of 12.22% and a negative net margin of 157.53%.The company had revenue of $0.33 million for the quarter.

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.