Future FinTech Group (NASDAQ:FTFT) Share Price Breaks Below 50-Day Moving Average – Here’s Why

Future FinTech Group Inc. (NASDAQ:FTFT)’s share price crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $3.31 and traded as low as $3.12. Future FinTech Group shares last traded at $3.19, with a volume of 120,792 shares.

Analysts Set New Price Targets

Several research firms have commented on FTFT. Weiss Ratings reissued a “sell (e+)” rating on shares of Future FinTech Group in a research report on Monday, September 21st. Wall Street Zen cut Future FinTech Group from a “sell” rating to a “strong sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Future FinTech Group Stock Down 8.1%

The company has a market cap of $27.66 million, a PE ratio of -0.11 and a beta of 1.72. The business’s 50 day moving average price is $3.31 and its 200-day moving average price is $13.33.

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

Future FinTech Group Company Profile

Future FinTech Group Inc. (NASDAQ: FTFT) is a financial technology company focused on blockchain applications, digital assets and related online commerce services. The company develops and operates blockchain-based platforms intended to support e-commerce, digital payments and other financial technology activities. Its businesses have included Chain Cloud Mall, an online shopping platform incorporating blockchain technology, as well as digital payment solutions, cryptocurrency mining and digital asset-related services.