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

Future FinTech Group Inc. (NASDAQ:FTFT) shares 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 trading hands.

Analysts Set New Price Targets

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

Future FinTech Group Stock Performance

The company’s fifty day simple moving average is $3.31 and its two-hundred day simple moving average is $13.33. The company has a market capitalization of $27.66 million, a price-to-earnings ratio of -0.11 and a beta of 1.72.

Future FinTech Group (NASDAQ:FTFT) last issued its earnings results on Friday, August 14th. The company reported ($5.04) earnings per share (EPS) 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 during the quarter.

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.