Fold (NASDAQ:FLD) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Fold (NASDAQ:FLD) from a sell rating to a hold rating in a report released on Sunday morning.

Several other brokerages also recently weighed in on FLD. Cantor Fitzgerald began coverage on shares of Fold in a research note on Monday, July 28th. They set an “overweight” rating and a $6.50 target price for the company. Northland Securities began coverage on shares of Fold in a research note on Tuesday, May 27th. They set an “outperform” rating and a $10.00 target price for the company. Finally, Northland Capmk upgraded shares of Fold to a “strong-buy” rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $7.83.

Fold Stock Performance

Fold stock opened at $3.76 on Friday. Fold has a twelve month low of $2.51 and a twelve month high of $14.00. The stock’s fifty day simple moving average is $4.30 and its 200-day simple moving average is $5.18. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.90.

Fold (NASDAQ:FLD) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The firm had revenue of $8.18 million during the quarter, compared to analyst estimates of $8.07 million.

Hedge Funds Weigh In On Fold

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new position in shares of Fold during the 2nd quarter valued at $25,000. North Capital Inc. acquired a new position in shares of Fold during the 2nd quarter valued at $30,000. FNY Investment Advisers LLC acquired a new position in shares of Fold during the 2nd quarter valued at $29,000. Harvest Portfolios Group Inc. acquired a new position in shares of Fold during the 2nd quarter valued at $43,000. Finally, Van Hulzen Asset Management LLC purchased a new stake in Fold during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 56.89% of the company’s stock.

Fold Company Profile

FTAC Emerald Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, and similar business combination with one or more businesses or assets operating in the clean/renewable energy, water sustainability, agricultural technology, shared economy software, and mobility sectors.