Future FinTech Group (NASDAQ:FTFT) Shares Scheduled to Reverse Split on Monday, July 13th

Future FinTech Group Inc. (NASDAQ:FTFT) shares are scheduled to reverse split on the morning of Monday, July 13th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, July 12th.

Future FinTech Group Stock Down 9.4%

FTFT stock traded down $0.05 during mid-day trading on Thursday, reaching $0.48. 173,801 shares of the company traded hands, compared to its average volume of 236,728. The firm’s 50 day moving average price is $0.99 and its 200 day moving average price is $1.59. The stock has a market cap of $2.82 million, a price-to-earnings ratio of -0.15 and a beta of 1.82. Future FinTech Group has a fifty-two week low of $0.45 and a fifty-two week high of $16.12.

Future FinTech Group (NASDAQ:FTFT) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.25) EPS for the quarter. The company had revenue of $0.21 million for the quarter. Future FinTech Group had a negative return on equity of 13.08% and a negative net margin of 37.76%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Future FinTech Group

A hedge fund recently bought a new position in Future FinTech Group stock. Royal Bank of Canada purchased a new position in Future FinTech Group Inc. (NASDAQ:FTFT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 40,000 shares of the company’s stock, valued at approximately $31,000. Royal Bank of Canada owned about 0.79% of Future FinTech Group as of its most recent filing with the Securities and Exchange Commission. 0.19% of the stock is currently owned by institutional investors.

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.