Future FinTech Group Inc. (NASDAQ:FTFT) Short Interest Down 59.7% in June

Future FinTech Group Inc. (NASDAQ:FTFT) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 32,456 shares, a drop of 59.7% from the June 15th total of 80,626 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average trading volume of 143,557 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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.com, the company has an average rating of “Sell”.

Future FinTech Group Stock Performance

Shares of Future FinTech Group stock traded down $0.20 on Tuesday, hitting $1.62. 287,112 shares of the company traded hands, compared to its average volume of 29,782. The stock has a market capitalization of $12.14 million, a P/E ratio of -0.51 and a beta of 1.82. Future FinTech Group has a 52 week low of $1.51 and a 52 week high of $62.08. The business has a 50-day simple moving average of $3.79 and a 200 day simple moving average of $6.18.

Future FinTech Group (NASDAQ:FTFT) last issued its earnings results on Friday, May 15th. The company reported ($1.00) earnings per share for the quarter. The company had revenue of $0.21 million for the quarter. Future FinTech Group had a negative return on equity of 13.08% and a negative net margin of 37.76%.

Institutional Inflows and Outflows

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 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing. Institutional investors and hedge funds own 0.19% of the company’s stock.

About Future FinTech Group

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.