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

Future FinTech Group Inc. (NASDAQ:FTFT) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 14,863 shares, a decline of 54.4% from the July 15th total of 32,560 shares. Based on an average daily trading volume, of 245,838 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.8% of the company’s shares are short sold.

Future FinTech Group Stock Up 1.9%

Shares of NASDAQ:FTFT traded up $0.02 during midday trading on Monday, reaching $0.84. The company’s stock had a trading volume of 149,764 shares, compared to its average volume of 51,688. The firm has a 50 day moving average of $1.99 and a 200-day moving average of $4.37. The firm has a market capitalization of $1.57 million, a P/E ratio of -0.07 and a beta of 1.89. Future FinTech Group has a 12-month low of $0.76 and a 12-month high of $62.08.

Future FinTech Group (NASDAQ:FTFT) last issued its quarterly earnings results on Friday, August 14th. The company reported ($1.26) earnings per share (EPS) for the quarter. Future FinTech Group had a negative net margin of 158.07% and a negative return on equity of 12.53%. The business had revenue of $0.33 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Future FinTech Group in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Trading of Future FinTech Group

An institutional investor recently bought a new position in Future FinTech Group stock. Royal Bank of Canada acquired a new stake in shares of Future FinTech Group Inc. (NASDAQ:FTFT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 40,000 shares of the company’s stock, valued at approximately $31,000. Royal Bank of Canada owned about 0.79% of Future FinTech Group at the end of the most recent quarter. Institutional investors own 0.19% of the company’s stock.

Future FinTech Group Company Profile

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.