Future FinTech Group Inc. (NASDAQ:FTFT) Sees Significant Growth in Short Interest

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

Future FinTech Group Stock Down 0.3%

Shares of Future FinTech Group stock opened at $0.68 on Thursday. Future FinTech Group has a 52 week low of $0.59 and a 52 week high of $62.08. The business has a 50 day moving average price of $1.54 and a 200-day moving average price of $3.97. The company has a market cap of $1.27 million, a PE ratio of -0.09 and a beta of 1.89.

Future FinTech Group (NASDAQ:FTFT) last announced its earnings results on Friday, August 14th. The company reported ($1.26) 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 for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Future FinTech Group in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On Future FinTech Group

A hedge fund recently bought a new stake in Future FinTech Group stock. XTX Topco Ltd purchased a new stake in shares of Future FinTech Group Inc. (NASDAQ:FTFT) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 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. 0.19% of the stock is owned by institutional investors and hedge funds.

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.