Future FinTech Group Inc. (NASDAQ:FTFT) Short Interest Up 152.2% in June

Future FinTech Group Inc. (NASDAQ:FTFT) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 80,626 shares, an increase of 152.2% from the May 31st total of 31,967 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily volume of 289,142 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Future FinTech Group stock. Royal Bank of Canada acquired a new position in Future FinTech Group Inc. (NASDAQ:FTFT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 40,000 shares of the company’s stock, valued at approximately $31,000. Royal Bank of Canada owned approximately 0.79% of Future FinTech Group at the end of the most recent quarter. 0.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Future FinTech Group Stock Performance

Shares of FTFT opened at $0.67 on Monday. The business’s 50-day moving average is $1.14 and its two-hundred day moving average is $1.82. The company has a market capitalization of $3.90 million, a P/E ratio of -0.21 and a beta of 1.77. Future FinTech Group has a fifty-two week low of $0.49 and a fifty-two week high of $16.12.

Future FinTech Group (NASDAQ:FTFT) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.25) earnings per share (EPS) for the quarter. Future FinTech Group had a negative net margin of 37.76% and a negative return on equity of 13.08%. The company had revenue of $0.21 million during the quarter.

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.