Short Interest in Future FinTech Group Inc. (NASDAQ:FTFT) Expands By 272.5%

Future FinTech Group Inc. (NASDAQ:FTFT) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 55,361 shares, an increase of 272.5% from the July 30th total of 14,863 shares. Based on an average trading volume of 77,467 shares, the short-interest ratio is currently 0.7 days. Currently, 3.0% of the company’s stock are sold short.

Future FinTech Group Trading Down 1.2%

Shares of NASDAQ:FTFT traded down $0.01 on Friday, reaching $0.57. The company had a trading volume of 93,547 shares, compared to its average volume of 72,773. Future FinTech Group has a 52-week low of $0.55 and a 52-week high of $62.08. The firm’s 50 day simple moving average is $1.50 and its 200-day simple moving average is $3.93. The firm has a market capitalization of $1.07 million, a PE ratio of -0.08 and a beta of 1.89.

Future FinTech Group’s stock is scheduled to reverse split on Monday, August 31st. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 30th.

Future FinTech Group (NASDAQ:FTFT) last issued its quarterly earnings data on Friday, August 14th. The company reported ($1.26) 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.

Institutional Trading of Future FinTech Group

A hedge fund recently bought a new stake in Future FinTech Group stock. Royal Bank of Canada acquired a new position in shares of Future FinTech Group Inc. (NASDAQ:FTFT) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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. 0.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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