Fold (NASDAQ:FLD) Stock Rating Lowered by Wall Street Zen

Fold (NASDAQ:FLD) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other research firms have also weighed in on FLD. Cantor Fitzgerald initiated coverage on Fold in a research report on Monday, July 28th. They issued an “overweight” rating and a $6.50 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fold in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.83.

Fold Stock Up 0.3%

Shares of NASDAQ FLD opened at $3.04 on Friday. The company’s 50 day moving average price is $3.58 and its 200-day moving average price is $3.99. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.44 and a current ratio of 1.47. Fold has a 52-week low of $2.51 and a 52-week high of $14.00. The company has a market capitalization of $146.86 million, a P/E ratio of -4.05 and a beta of 0.16.

Fold (NASDAQ:FLD) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The firm had revenue of $7.40 million for the quarter, compared to the consensus estimate of $9.20 million.

Institutional Trading of Fold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in Fold during the 2nd quarter worth approximately $25,000. North Capital Inc. bought a new stake in shares of Fold during the second quarter valued at approximately $30,000. FNY Investment Advisers LLC acquired a new position in shares of Fold during the second quarter worth approximately $29,000. Aptus Capital Advisors LLC bought a new position in shares of Fold in the 3rd quarter worth $39,000. Finally, SevenBridge Financial Group LLC acquired a new stake in Fold in the 3rd quarter valued at $39,000. 56.89% of the stock is owned by institutional investors.

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.