Future FinTech Group (NASDAQ:FTFT) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Future FinTech Group Inc. (NASDAQ:FTFT)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.76 and traded as low as $0.78. Future FinTech Group shares last traded at $0.8294, with a volume of 64,443 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FTFT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Future FinTech Group in a report on Monday, December 22nd. Wall Street Zen raised Future FinTech Group to a “hold” rating in a research report on Friday, September 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Future FinTech Group has an average rating of “Sell”.

Future FinTech Group Stock Performance

The firm has a market cap of $16.71 million, a price-to-earnings ratio of -0.06 and a beta of 1.28. The firm’s 50 day moving average is $1.20 and its 200-day moving average is $1.76.

Future FinTech Group (NASDAQ:FTFT) last posted its earnings results on Friday, November 14th. The company reported ($0.33) EPS for the quarter. Future FinTech Group had a negative return on equity of 303.80% and a negative net margin of 1,038.07%.The business had revenue of $1.33 million for the quarter.

Institutional Investors 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 Future FinTech Group Inc. (NASDAQ:FTFT) during the 2nd quarter, according to its most recent disclosure 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 about 0.75% of Future FinTech Group as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 0.19% of the company’s stock.

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.