Future FinTech Group Inc. (NASDAQ:FTFT) Short Interest Down 51.2% in December

Future FinTech Group Inc. (NASDAQ:FTFT) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 67,501 shares, a drop of 51.2% from the December 15th total of 138,365 shares. Based on an average daily trading volume, of 44,253 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.3% of the company’s stock are short sold. Currently, 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 44,253 shares, the days-to-cover ratio is presently 1.5 days.

Future FinTech Group Trading Down 3.8%

Shares of FTFT traded down $0.03 during midday trading on Wednesday, reaching $0.64. The stock had a trading volume of 92,729 shares, compared to its average volume of 63,309. The firm has a market cap of $12.96 million, a PE ratio of -0.05 and a beta of 1.28. The firm has a 50 day simple moving average of $1.07 and a 200-day simple moving average of $1.75. Future FinTech Group has a one year low of $0.56 and a one year high of $5.00.

Future FinTech Group (NASDAQ:FTFT) last issued its earnings results on Friday, November 14th. The company reported ($0.33) earnings per share (EPS) for the quarter. Future FinTech Group had a negative net margin of 1,038.07% and a negative return on equity of 303.80%. The firm had revenue of $1.33 million during the quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on FTFT. Wall Street Zen raised shares of Future FinTech Group to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Future FinTech Group in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Trading of Future FinTech Group

A hedge fund 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) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 25,901 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned 0.75% of Future FinTech Group at the end of the most recent quarter. 0.19% of the stock is currently owned by hedge funds and other institutional investors.

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.