Wall Street Zen Downgrades Fold (NASDAQ:FLD) to Sell

Wall Street Zen cut shares of Fold (NASDAQ:FLD) from a hold rating to a sell rating in a research report sent to investors on Friday.

Separately, Cantor Fitzgerald started coverage on Fold in a report on Monday, July 28th. They set an “overweight” rating and a $6.50 price objective for the company. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, Fold presently has a consensus rating of “Buy” and a consensus price target of $7.83.

Fold Price Performance

FLD stock opened at $3.68 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.90. The business has a 50 day moving average of $3.82 and a 200-day moving average of $4.37. Fold has a 12-month low of $2.51 and a 12-month high of $14.00.

Fold (NASDAQ:FLD) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.08). The business had revenue of $8.18 million during the quarter, compared to analyst estimates of $8.07 million.

Institutional Investors Weigh In On Fold

Several institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. purchased a new stake in shares of Fold during the second quarter worth $121,000. Baird Financial Group Inc. purchased a new stake in shares of Fold during the second quarter worth $445,000. Van Hulzen Asset Management LLC purchased a new stake in shares of Fold during the second quarter worth $43,000. DLD Asset Management LP purchased a new stake in shares of Fold during the second quarter worth $102,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Fold during the second quarter worth $749,000. Hedge funds and other institutional investors own 56.89% of the company’s stock.

About Fold

FTAC Emerald Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, and similar business combination with one or more businesses or assets operating in the clean/renewable energy, water sustainability, agricultural technology, shared economy software, and mobility sectors.