Short Interest in Future FinTech Group Inc. (NASDAQ:FTFT) Drops By 60.4%

Future FinTech Group Inc. (NASDAQ:FTFT) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totaling 48,346 shares, a decrease of 60.4% from the April 30th total of 122,080 shares. Based on an average daily trading volume, of 97,894 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Future FinTech Group in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor 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 Form 13F filing with the Securities & 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 as of its most recent SEC filing. Institutional investors own 0.19% of the company’s stock.

Future FinTech Group Stock Up 0.8%

Shares of NASDAQ:FTFT opened at $1.21 on Friday. Future FinTech Group has a 52-week low of $1.00 and a 52-week high of $16.12. The stock has a market cap of $7.10 million, a P/E ratio of -0.38 and a beta of 1.84. The business’s 50 day moving average is $1.31 and its 200 day moving average is $2.40.

Future FinTech Group (NASDAQ:FTFT) last announced 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 return on equity of 13.08% and a negative net margin of 37.76%.The firm 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.