Future FinTech Group Inc. (NASDAQ:FTFT) Sees Significant Increase in Short Interest

Future FinTech Group Inc. (NASDAQ:FTFT) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 80,626 shares, an increase of 152.2% from the May 31st total of 31,967 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average trading volume of 289,142 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Future FinTech Group in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Future FinTech Group currently has an average rating of “Sell”.

Institutional Trading of Future FinTech Group

A hedge fund recently bought a new position in Future FinTech Group stock. Royal Bank of Canada purchased a new position in shares of Future FinTech Group Inc. (NASDAQ:FTFT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 hedge funds and other institutional investors.

Future FinTech Group Trading Down 10.7%

NASDAQ FTFT traded down $0.08 during trading hours on Tuesday, reaching $0.66. The company had a trading volume of 99,088 shares, compared to its average volume of 99,003. The stock has a 50-day moving average of $1.13 and a 200 day moving average of $1.79. Future FinTech Group has a 1-year low of $0.49 and a 1-year high of $16.12. The stock has a market capitalization of $3.88 million, a P/E ratio of -0.21 and a beta of 1.77.

Future FinTech Group (NASDAQ:FTFT) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.25) earnings per share for the quarter. The company had revenue of $0.21 million for the quarter. Future FinTech Group had a negative net margin of 37.76% and a negative return on equity of 13.08%.

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.