Future FinTech Group Inc. (NASDAQ:FTFT) Sees Large Decline in Short Interest

Future FinTech Group Inc. (NASDAQ:FTFT) was the target of a large decrease in short interest in May. As of May 29th, there was short interest totaling 31,967 shares, a decrease of 33.9% from the May 14th total of 48,346 shares. Based on an average daily volume of 27,697 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.6% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Future FinTech Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Future FinTech Group presently has an average rating of “Sell”.

Future FinTech Group Stock Performance

Shares of FTFT opened at $0.74 on Thursday. Future FinTech Group has a one year low of $0.49 and a one year high of $16.12. The stock has a market capitalization of $4.33 million, a price-to-earnings ratio of -0.23 and a beta of 1.77. The stock has a 50 day moving average price of $1.26 and a 200 day moving average price of $2.02.

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

Institutional Investors Weigh In On Future FinTech Group

An institutional investor recently bought a new position in Future FinTech Group stock. Royal Bank of Canada acquired a new stake in Future FinTech Group Inc. (NASDAQ:FTFT) in the fourth quarter, according to its most recent disclosure 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 at the end of the most recent quarter. 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.