Future FinTech Group Inc. (NASDAQ:FTFT) Short Interest Up 248.9% in August

Future FinTech Group Inc. (NASDAQ:FTFT) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 193,133 shares, a growth of 248.9% from the August 15th total of 55,361 shares. Based on an average daily volume of 1,589,747 shares, the days-to-cover ratio is presently 0.1 days. Currently, 2.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Future FinTech Group stock. Royal Bank of Canada bought a new stake 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 bought 40,000 shares of the company’s stock, valued at approximately $31,000. Royal Bank of Canada owned 0.79% of Future FinTech Group at the end of the most recent quarter. 0.19% of the stock is owned by hedge funds and other institutional investors.

Future FinTech Group Price Performance

Shares of NASDAQ:FTFT traded up $0.83 during trading on Friday, hitting $2.88. The company had a trading volume of 52,745,949 shares, compared to its average volume of 5,688,624. The stock has a market cap of $27.01 million, a price-to-earnings ratio of -0.10 and a beta of 1.80. Future FinTech Group has a one year low of $1.22 and a one year high of $248.32. The company has a fifty day simple moving average of $4.04 and a two-hundred day simple moving average of $13.98.

Future FinTech Group (NASDAQ:FTFT) last released its earnings results on Friday, August 14th. The company reported ($5.04) earnings per share for the quarter. Future FinTech Group had a negative net margin of 157.53% and a negative return on equity of 12.22%. The company had revenue of $0.33 million for the quarter.

Analysts Set New Price Targets

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