Short Interest in Future FinTech Group Inc. (NASDAQ:FTFT) Grows By 167.3%

Future FinTech Group Inc. (NASDAQ:FTFT) saw a large increase in short interest in April. As of April 30th, there was short interest totaling 122,080 shares, an increase of 167.3% from the April 15th total of 45,678 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average trading volume of 353,997 shares, the days-to-cover ratio is currently 0.3 days.

Future FinTech Group Trading Up 3.4%

Shares of NASDAQ FTFT opened at $1.22 on Friday. The company has a market cap of $6.39 million, a price-to-earnings ratio of -0.02 and a beta of 1.84. Future FinTech Group has a 12-month low of $1.00 and a 12-month high of $16.12. The stock’s 50 day simple moving average is $1.36 and its 200 day simple moving average is $2.82.

Future FinTech Group (NASDAQ:FTFT) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $29.81 earnings per share (EPS) for the quarter. The business had revenue of $1.35 million for the quarter. Future FinTech Group had a negative return on equity of 127.23% and a negative net margin of 120.63%.

Institutional Trading of Future FinTech Group

A hedge fund recently bought a new stake in Future FinTech Group stock. XTX Topco Ltd bought a new stake in shares of Future FinTech Group Inc. (NASDAQ:FTFT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 25,901 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned approximately 0.75% of Future FinTech Group at the end of the most recent reporting period. Institutional investors own 0.19% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Future FinTech Group in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock 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.