Fold (NASDAQ:FLD) Price Target Lowered to $0.70 at Cantor Fitzgerald

Fold (NASDAQ:FLD) had its target price decreased by Cantor Fitzgerald from $1.70 to $0.70 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 47.90% from the company’s previous close.

Several other brokerages have also recently weighed in on FLD. Northland Securities set a $3.50 target price on shares of Fold in a report on Wednesday, May 13th. Wall Street Zen raised shares of Fold from a “strong sell” rating to a “sell” rating in a report on Saturday, April 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Fold in a report on Monday, June 15th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.40.

Fold Price Performance

Shares of FLD opened at $0.47 on Friday. The company’s fifty day moving average price is $0.50 and its 200-day moving average price is $1.08. The firm has a market capitalization of $24.04 million, a PE ratio of -0.31 and a beta of 0.36. Fold has a 1-year low of $0.36 and a 1-year high of $4.70.

Fold (NASDAQ:FLD) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04). Fold had a negative return on equity of 101.16% and a negative net margin of 258.60%.The business had revenue of $6.09 million for the quarter, compared to analysts’ expectations of $7.67 million. As a group, research analysts anticipate that Fold will post -0.68 EPS for the current fiscal year.

Insider Buying and Selling at Fold

In related news, Director Jonathan Kirkwood purchased 105,000 shares of Fold stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $0.61 per share, with a total value of $64,050.00. Following the completion of the transaction, the director owned 457,295 shares of the company’s stock, valued at approximately $278,949.95. This trade represents a 29.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have bought 123,500 shares of company stock valued at $84,890 and have sold 87,490 shares valued at $87,964. Insiders own 23.08% of the company’s stock.

Hedge Funds Weigh In On Fold

Several hedge funds and other institutional investors have recently modified their holdings of FLD. Barclays PLC acquired a new position in Fold during the 4th quarter worth $26,000. Goldman Sachs Group Inc. bought a new stake in shares of Fold during the 4th quarter worth $28,000. Abel Hall LLC purchased a new stake in Fold during the first quarter valued at about $31,000. Aptus Capital Advisors LLC purchased a new stake in shares of Fold in the third quarter valued at $39,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Fold in the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 56.89% of the company’s stock.

About Fold

Fold, trading under the ticker FLD on the NASDAQ, is a financial technology company specializing in bitcoin rewards and cryptocurrency-based consumer products. The company’s core offering enables users to earn bitcoin on everyday purchases through a prepaid Visa debit card, converting traditional currency transactions into bitcoin rewards at no extra cost. By partnering with major payment networks and merchant platforms, Fold aims to bridge the gap between mainstream spending and digital asset adoption.

Beyond the debit card, Fold offers a mobile application that integrates with the Bitcoin Lightning Network to facilitate faster and more cost-efficient transactions.