Future FinTech Group (NASDAQ:FTFT) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Future FinTech Group Inc. (NASDAQ:FTFT)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.75 and traded as low as $0.64. Future FinTech Group shares last traded at $0.6904, with a volume of 103,639 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Future FinTech Group in a research report on Monday, December 22nd. Wall Street Zen upgraded shares of Future FinTech Group to a “hold” rating in a research note on Friday, September 26th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Future FinTech Group Stock Down 8.7%

The business has a 50-day simple moving average of $1.07 and a two-hundred day simple moving average of $1.75. The stock has a market capitalization of $13.91 million, a P/E ratio of -0.05 and a beta of 1.28.

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

Institutional Trading of Future FinTech Group

An institutional investor recently bought a new position in Future FinTech Group stock. XTX Topco Ltd acquired a new position in shares of Future FinTech Group Inc. (NASDAQ:FTFT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 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 quarter. Institutional investors own 0.19% of the company’s stock.

Future FinTech Group Company Profile

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.