Fold (NASDAQ:FLD) Issues Quarterly Earnings Results

Fold (NASDAQ:FLD) posted its quarterly earnings results on Monday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.03), Zacks reports.

Fold Stock Down 4.9%

FLD stock traded down $0.15 during midday trading on Monday, hitting $2.94. 306,317 shares of the company’s stock were exchanged, compared to its average volume of 451,332. The firm has a 50 day moving average price of $3.65 and a 200-day moving average price of $4.05. The stock has a market capitalization of $137.56 million, a price-to-earnings ratio of -4.90 and a beta of 0.16. Fold has a 12-month low of $2.51 and a 12-month 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.

Wall Street Analyst Weigh In

FLD has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Fold in a research note on Wednesday, October 8th. Cantor Fitzgerald assumed coverage on shares of Fold in a research note on Monday, July 28th. They set an “overweight” rating and a $6.50 target price for the company. Finally, Wall Street Zen upgraded shares of Fold from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.83.

Institutional Investors Weigh In On Fold

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position 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 in the last quarter. Osaic Holdings Inc. acquired a new stake in Fold in the second quarter valued at approximately $121,000. Baird Financial Group Inc. bought a new position in shares of Fold during the 2nd quarter valued at $445,000. Finally, Geode Capital Management LLC bought a new position in Fold during the second quarter valued at about $749,000. 56.89% of the stock is currently owned by institutional investors and hedge funds.

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.