Future FinTech Group Inc. [NASDAQ: FTFT] closed the trading session at $4.19 on 04/14/21. The day’s price range saw the stock hit a low of $4.10, while the highest price level was $4.75. The company report on April 14, 2021 that Future Fintech Announces Framework Agreement to Acquire Cryptocurrency Mining Farm.
Future FinTech Group Inc. (NASDAQ: FTFT) (“hereinafter referred to as “Future FinTech”, “FTFT” or “the Company”), a leading blockchain-based e-commerce business and a fintech service provider, announced that the Company has signed an equity acquisition framework agreement (the “Framework Agreement”) to acquire a 51% equity interest in Mingtang Network Technology Co., Ltd. (the “Mingtang Network”) from its shareholders (the “Sellers”). Mingtang Network is located in the Changji Zhundong Economic and Development Zone in the Xinjiang Autonomous Region of China. The Framework Agreement is non-binding except for the ‘Confidentiality and Exclusivity’ and ‘Applicable Law and Dispute Resolution’ sections of the agreement.
Mingtang Network operates a cryptocurrency mining farm that integrates big data collection, cloud storage and advanced computer software and hardware operations into an industrial system of data analysis and information storage. Phase I of Mingtang Network’s data center has a 50,000 capacity load for cryptocurrency mining machines, the ability to run big data mining applications and is fully operational. It also has 300,000 sets of mechanical and electrical equipment on site such as standby or outsourcing cryptocurrency mainframes, mining machine power supply modules, etc., which are either owned by Mingtang Network or its clients using the mining farm. Mingtang Network’s cryptocurrency mining farm has been granted all necessary governmental approvals in China.
The stocks have a year to date performance of 122.87 percent and weekly performance of -21.39 percent. The stock has been moved at 105.39 percent over the last six months. The stock has performed -36.90 percent around the most recent 30 days and changed -35.44 percent over the most recent 3-months.
If compared to the average trading volume of 7.70M shares, FTFT reached to a volume of 11313813 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Future FinTech Group Inc. [FTFT]:
The Average True Range (ATR) for Future FinTech Group Inc. is set at 0.76, with the Price to Sales ratio for FTFT stock in the period of the last 12 months amounting to 553.50. The Price to Book ratio for the last quarter was 6.76, with the Price to Cash per share for the same quarter was set at 0.02.
FTFT stock trade performance evaluation
Future FinTech Group Inc. [FTFT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.39. With this latest performance, FTFT shares dropped by -36.90% in over the last four-week period, additionally plugging by 105.39% over the last 6 months – not to mention a rise of 240.65% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FTFT stock in for the last two-week period is set at 34.93, with the RSI for the last a single of trading hit 26.89, and the three-weeks RSI is set at 40.20 for Future FinTech Group Inc. [FTFT]. The present Moving Average for the last 50 days of trading for this stock 6.05, while it was recorded at 4.91 for the last single week of trading, and 3.48 for the last 200 days.
Future FinTech Group Inc. [FTFT]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Future FinTech Group Inc. [FTFT] shares currently have an operating margin of -1066.32 and a Gross Margin at +38.19. Future FinTech Group Inc.’s Net Margin is presently recorded at -1415.60.
Reflecting on the efficiency of the workforce at the company, Future FinTech Group Inc. [FTFT] managed to generate an average of -$60,634 per employee. Receivables Turnover for the company is 0.08 with a Total Asset Turnover recorded at a value of 0.01.Future FinTech Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.
Earnings per share (EPS) analysis for Future FinTech Group Inc. [FTFT] stock
With the latest financial reports released by the company, Future FinTech Group Inc. posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FTFT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Future FinTech Group Inc. go to 15.00%.
Future FinTech Group Inc. [FTFT]: Insider Ownership positions
There are presently around $9 million, or 3.30% of FTFT stock, in the hands of institutional investors. The top three institutional holders of FTFT stocks are: ANSON FUNDS MANAGEMENT LP with ownership of 971,534, which is approximately New of the company’s market cap and around 59.62% of the total institutional ownership; HUDSON BAY CAPITAL MANAGEMENT LP, holding 918,030 shares of the stock with an approximate value of $3.85 million in FTFT stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $0.38 million in FTFT stock with ownership of nearly New of the company’s market capitalization.
Positions in Future FinTech Group Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 9 institutional holders increased their position in Future FinTech Group Inc. [NASDAQ:FTFT] by around 2,057,675 shares. Additionally, 4 investors decreased positions by around 167,979 shares, while 1 investors held positions by with 134,714 shares. The mentioned changes placed institutional holdings at 2,090,940 shares, according to the latest SEC report filing. FTFT stock had 9 new institutional investments in for a total of 2,057,675 shares, while 3 institutional investors sold positions of 167,161 shares during the same period.