Future FinTech Group Inc. (NASDAQ:FTFT) Stock Short Interest Rises 386.1%

Future FinTech Group Inc. (NASDAQ:FTFT) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 938,799 shares, a growth of 386.1% from the August 31st total of 193,133 shares. Based on an average daily trading volume, of 28,373,408 shares, the short-interest ratio is currently 0.0 days. Currently, 10.2% of the shares of the company are short sold.

Future FinTech Group Stock Performance

Shares of NASDAQ:FTFT traded down $0.04 during midday trading on Friday, reaching $4.38. 192,402 shares of the company’s stock traded hands, compared to its average volume of 16,486,829. The company has a fifty day simple moving average of $3.63 and a two-hundred day simple moving average of $12.71. Future FinTech Group has a 1 year low of $1.22 and a 1 year high of $154.88. The company has a market cap of $41.08 million, a P/E ratio of -0.15 and a beta of 1.80.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Future FinTech Group to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Future FinTech Group in a research note on Monday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Future FinTech Group

Future FinTech Group Inc (NASDAQ: FTFT) is a financial technology company focused on blockchain, digital assets and related financial services. The company has developed and operated blockchain-based platforms, digital payment solutions and cryptocurrency-related businesses.

Its activities have included Chain Cloud Mall, an online shopping platform that uses blockchain technology, as well as cryptocurrency mining and digital-asset services. The company has also pursued opportunities in fintech, including cross-border payment and other technology-enabled financial solutions.

Future FinTech was formerly known as Future Biotechnology Inc and historically operated in the fruit juice business before shifting its strategy toward blockchain and financial technology.