Future Fintech Group Inc (NASDAQ:FTFT) saw a significant drop in short interest in May. As of May 15th, there was short interest totalling 262,900 shares, a drop of 8.6% from the April 30th total of 287,600 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 190,100 shares, the days-to-cover ratio is presently 1.4 days.
A hedge fund recently raised its stake in Future Fintech Group stock. Wedbush Securities Inc. boosted its position in Future Fintech Group Inc (NASDAQ:FTFT) by 95.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,300 shares of the company’s stock after acquiring an additional 40,664 shares during the period. Wedbush Securities Inc. owned 0.25% of Future Fintech Group worth $37,000 at the end of the most recent quarter. 0.29% of the stock is owned by hedge funds and other institutional investors.
Separately, ValuEngine cut Future Fintech Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 1st.
About Future Fintech Group
Future FinTech Group Inc, through its subsidiaries, produces and sells fruit juice concentrates, fruit beverages, and other fruit-related products in the People's Republic of China. It offers fruit juice concentrates, including fruit purees, concentrated fruit purees, and concentrated fruit juices; fruit beverages, such as fruit juice and fruit cider beverages; and other fruit-related products comprising organic and non-organic fresh fruits, dried fruits, preserved fruits, and fructose.
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