Short Interest in Future FinTech Group Inc. (NASDAQ:FTFT) Decreases By 54.4%

Future FinTech Group Inc. (NASDAQ:FTFT) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 14,863 shares, a decrease of 54.4% from the July 15th total of 32,560 shares. Based on an average daily volume of 245,838 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.8% of the shares of the stock are sold short.

Future FinTech Group Trading Up 1.5%

Shares of FTFT stock traded up $0.01 on Friday, reaching $0.83. The company’s stock had a trading volume of 68,797 shares, compared to its average volume of 182,484. The stock’s fifty day simple moving average is $1.99 and its 200-day simple moving average is $4.40. Future FinTech Group has a 1 year low of $0.76 and a 1 year high of $62.08. The company has a market capitalization of $1.54 million, a price-to-earnings ratio of -0.07 and a beta of 1.89.

Future FinTech Group (NASDAQ:FTFT) last announced 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 37.76% and a negative return on equity of 13.08%. The business had revenue of $0.33 million for the quarter.

Hedge Funds Weigh In On Future FinTech Group

An institutional investor recently bought a new stake in Future FinTech Group stock. XTX Topco Ltd purchased a new position in Future FinTech Group Inc. (NASDAQ:FTFT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,901 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned about 0.75% of Future FinTech Group as of its most recent SEC filing. Hedge funds and other institutional investors own 0.19% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Future FinTech Group in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

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.