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

Future FinTech Group Inc. (NASDAQ:FTFT) was the recipient of a large increase in short interest during the month of October. As of October 30th, there was short interest totaling 303,312 shares, an increase of 93.8% from the October 15th total of 156,491 shares. Currently, 3.5% of the shares of the stock are sold short. Based on an average trading volume of 1,682,075 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FTFT. Wall Street Zen cut shares of Future FinTech Group from a “sell” rating to a “strong sell” rating in a research report on Sunday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Future FinTech Group in a research report on Monday, September 21st. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Future FinTech Group Stock Up 1.5%

Shares of NASDAQ FTFT traded up $0.06 during mid-day trading on Friday, reaching $4.10. 53,306 shares of the company were exchanged, compared to its average volume of 1,055,874. Future FinTech Group has a 52 week low of $1.22 and a 52 week high of $87.68. The stock has a market capitalization of $35.55 million, a PE ratio of -0.14 and a beta of 1.72. The company’s 50 day moving average price is $3.44 and its 200 day moving average price is $12.86.

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

Future FinTech Group Company Profile

Future FinTech Group Inc. is a financial technology and financial services holding company. Its business activities have included cross-border payment services, securities brokerage, investment banking and asset management, as well as blockchain-related initiatives. The company was formerly known as SkyPeople Fruit Juice, Inc. and changed its name to Future FinTech Group Inc. in 2017, reflecting a shift away from its original fruit-juice business toward financial technology and services. Future FinTech has pursued business through subsidiaries and affiliates in China and international markets.