Future FinTech Group Inc. (NASDAQ:FTFT) Shares Shorted: Short Interest Down 79.4% in September

Future FinTech Group Inc. (NASDAQ:FTFT) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 193,374 shares, a decline of 79.4% from the September 15th total of 938,799 shares. Approximately 2.1% of the company’s shares are short sold. Based on an average daily volume of 2,580,424 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

FTFT has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Future FinTech Group in a research report on Monday, September 21st. Wall Street Zen upgraded shares of Future FinTech Group to a “sell” rating in a report on Saturday, September 26th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Future FinTech Group Price Performance

Future FinTech Group stock traded down $0.11 during mid-day trading on Monday, reaching $3.09. 23,794 shares of the company traded hands, compared to its average volume of 8,239,658. The firm’s 50 day moving average price is $3.38 and its 200 day moving average price is $11.27. The firm has a market capitalization of $26.79 million, a price-to-earnings ratio of -0.10 and a beta of 1.70. Future FinTech Group has a 52-week low of $1.22 and a 52-week high of $151.68.

Future FinTech Group (NASDAQ:FTFT) last issued its quarterly earnings data on Friday, August 14th. The company reported ($5.04) 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 blockchain company traded on the Nasdaq under the symbol FTFT. The company develops and operates businesses connected with digital assets, blockchain applications, online commerce and financial services.

Its activities have included the Chain Cloud Mall, a blockchain-based online shopping platform, as well as cryptocurrency mining and digital-asset-related services. The company has also explored digital-asset exchanges, payment solutions and other fintech initiatives through subsidiaries and strategic investments.

Future FinTech was formerly known as SkyPeople Fruit Juice, a company associated with fruit juice production and related agricultural businesses in China.