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

Future FinTech Group Inc. (NASDAQ:FTFT) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.78 and traded as low as $0.8829. Future FinTech Group shares last traded at $0.96, with a volume of 42,478 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FTFT. Wall Street Zen upgraded Future FinTech Group to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Future FinTech Group in a research note on Monday, December 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Future FinTech Group Trading Up 2.3%

The stock has a market cap of $19.34 million, a PE ratio of -0.07 and a beta of 1.17. The business has a fifty day simple moving average of $1.50 and a two-hundred day simple moving average of $1.78.

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

Institutional Trading of Future FinTech Group

An institutional investor recently bought a new position in Future FinTech Group stock. XTX Topco Ltd purchased a new stake in shares of Future FinTech Group Inc. (NASDAQ:FTFT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,901 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned 0.75% of Future FinTech Group as of its most recent SEC filing. Hedge funds and other institutional investors own 0.19% of the company’s stock.

About Future FinTech Group

Future FinTech Group Inc, through its subsidiaries, operates online shopping platforms in People’s Republic of China. It operates in three segments: Supply Chain Financing Service and Trading Business, Asset Management Service, and Others. The company offers cross-border money transfer service, brokerage and investment banking, and cryptocurrency mining farm business.