Future FinTech Group Shares to Reverse Split on Monday, August 31st (NASDAQ:FTFT)

Future FinTech Group Inc. (NASDAQ:FTFT)’s stock is set to reverse split on Monday, August 31st. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 30th.

Future FinTech Group Price Performance

Shares of FTFT traded down $0.10 during trading hours on Thursday, hitting $0.58. 246,500 shares of the stock were exchanged, compared to its average volume of 298,431. Future FinTech Group has a fifty-two week low of $0.55 and a fifty-two week high of $62.08. The business has a 50-day moving average of $1.50 and a 200-day moving average of $3.93. The firm has a market capitalization of $1.09 million, a P/E ratio of -0.08 and a beta of 1.89.

Future FinTech Group (NASDAQ:FTFT) last released its earnings results on Friday, August 14th. The company reported ($1.26) earnings per share (EPS) for the quarter. Future FinTech Group had a negative net margin of 157.53% and a negative return on equity of 12.22%. The firm had revenue of $0.33 million during the quarter.

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, June 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Institutional Trading of Future FinTech Group

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

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.