Future FinTech Group Inc. (NASDAQ:FTFT) Short Interest Up 53.2% in December

Future FinTech Group Inc. (NASDAQ:FTFT) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 138,365 shares, a growth of 53.2% from the November 30th total of 90,308 shares. Based on an average trading volume of 44,111 shares, the days-to-cover ratio is currently 3.1 days. Currently, 0.7% of the shares of the company are short sold. Currently, 0.7% of the shares of the company are short sold. Based on an average trading volume of 44,111 shares, the days-to-cover ratio is currently 3.1 days.

Hedge Funds Weigh In On Future FinTech Group

An institutional investor recently bought a new position in Future FinTech Group stock. XTX Topco Ltd purchased a new stake in Future FinTech Group Inc. (NASDAQ:FTFT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period. 0.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FTFT shares. Wall Street Zen upgraded shares of Future FinTech Group to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Future FinTech Group in a report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Future FinTech Group Stock Down 4.0%

NASDAQ FTFT traded down $0.03 during mid-day trading on Tuesday, hitting $0.82. The stock had a trading volume of 61,649 shares, compared to its average volume of 619,387. The company has a 50 day simple moving average of $1.33 and a 200 day simple moving average of $1.77. The company has a market cap of $16.42 million, a price-to-earnings ratio of -0.06 and a beta of 1.17. Future FinTech Group has a 52-week low of $0.78 and a 52-week high of $5.00.

Future FinTech Group (NASDAQ:FTFT) last posted its earnings results on Friday, November 14th. The company reported ($0.33) earnings per share for the quarter. Future FinTech Group had a negative net margin of 1,038.07% and a negative return on equity of 303.80%. The firm had revenue of $1.33 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.