Future FinTech Group (NASDAQ:FTFT) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Future FinTech Group Inc. (NASDAQ:FTFT)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $3.17 and traded as high as $3.85. Future FinTech Group shares last traded at $3.29, with a volume of 1,291,830 shares trading hands.

Analysts Set New Price Targets

A number of research firms have weighed in on FTFT. Wall Street Zen raised shares of Future FinTech Group to a “sell” rating in a research note on Saturday, September 26th. 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 MarketBeat, the stock currently has an average rating of “Sell”.

Future FinTech Group Stock Up 12.7%

The company has a market cap of $28.52 million, a P/E ratio of -0.11 and a beta of 1.70. The firm’s 50 day moving average is $3.17 and its two-hundred day moving average is $14.42.

Future FinTech Group (NASDAQ:FTFT) last announced 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 return on equity of 12.22% and a negative net margin of 157.53%. The company had revenue of $0.33 million for the quarter.

About Future FinTech Group

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.