Short Interest in Future FinTech Group Inc. (NASDAQ:FTFT) Expands By 248.9%

Future FinTech Group Inc. (NASDAQ:FTFT) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 193,133 shares, a growth of 248.9% from the August 15th total of 55,361 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average trading volume of 1,589,747 shares, the short-interest ratio is currently 0.1 days.

Future FinTech Group Stock Performance

Future FinTech Group stock traded up $0.83 during midday trading on Friday, reaching $2.88. The stock had a trading volume of 52,745,949 shares, compared to its average volume of 5,688,624. The stock’s 50-day simple moving average is $4.04 and its 200 day simple moving average is $13.98. Future FinTech Group has a twelve month low of $1.22 and a twelve month high of $248.32. The stock has a market capitalization of $27 million, a PE ratio of -0.10 and a beta of 1.80.

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

Institutional Investors Weigh In On Future FinTech Group

A hedge fund recently bought a new position in Future FinTech Group stock. Royal Bank of Canada bought a new stake in shares of Future FinTech Group Inc. (NASDAQ:FTFT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Future FinTech Group in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently 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.