Fold (NASDAQ:FLD) Releases Earnings Results, Misses Expectations By $0.03 EPS

Fold (NASDAQ:FLD) released its quarterly earnings results on Monday. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03), Zacks reports.

Fold Trading Down 4.9%

Fold stock traded down $0.15 during midday trading on Monday, hitting $2.94. 306,317 shares of the stock were exchanged, compared to its average volume of 451,332. The stock’s 50-day simple moving average is $3.65 and its 200 day simple moving average is $4.05. Fold has a fifty-two week low of $2.51 and a fifty-two week high of $14.00. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $137.56 million, a price-to-earnings ratio of -4.90 and a beta of 0.16.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded Fold from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fold in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald began coverage on shares of Fold in a research note on Monday, July 28th. They set an “overweight” rating and a $6.50 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.83.

Institutional Investors Weigh In On Fold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. acquired a new stake in shares of Fold during the 2nd quarter worth about $121,000. Baird Financial Group Inc. purchased a new position in Fold during the second quarter worth about $445,000. Geode Capital Management LLC acquired a new stake in shares of Fold during the second quarter valued at about $749,000. Finally, Vanguard Group Inc. raised its stake in shares of Fold by 650.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,775,506 shares of the company’s stock valued at $6,853,000 after acquiring an additional 1,538,920 shares during the period. Hedge funds and other institutional investors own 56.89% of the company’s stock.

Fold Company Profile

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.