Future FinTech Group Inc. [FTFT] is -59.92% lower this YTD. Is it still time to buy?


Future FinTech Group Inc. [NASDAQ: FTFT] gained 11.83% or 0.05 points to close at $0.53 with a heavy trading volume of 3708668 shares. The company report on May 3, 2022 that FTFT Subsidiary Signs Agreement to Procure Power Supply for its Planned Cryptocurrency Mining Farm in the US.

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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 today that on April 22, 2022, its wholly-owned subsidiary, FTFT SuperComputing Inc. (“FTFT SuperComputing”), signed an Electricity Sales and Purchase Agreement (the “Agreement”) with Champion Energy Services, LLC (“Champion Energy”). The Agreement stipulates that Champion Energy is obligated to provide 15.58 MW of electricity for the development of the Company’s planned cryptocurrency farm in Northwest Ohio. The Agreement has a provision for a hybrid pricing plan that includes a fixed and index combination and is customer-specific to changes in FTFT SuperComputing’s energy needs. The start date for the sale and delivery of electricity is anticipated to be July 1, 2022, and the Agreement has a term of six years.

In December 2021, the Company announced its plan to build a cryptocurrency mining farm in the US which, if successful, the first phase could deploy approximately 12,000 S19 Antminers and accommodate about 1.3 EH/s of hash power. The total investment for the cryptocurrency mining farm project is estimated to be $62 million, with each of the six stages of the project projected to be $10 million per expansion phase; however, $12 million is being allocated for the first phase of the project for the acquisition of the site, plant development and the upgrading of the power system.

It opened the trading session at $0.474, the shares rose to $0.57 and dropped to $0.4651, the range by which the price of stock traded the whole day. The daily chart for FTFT points out that the company has recorded -63.24% loss over the past six months. However, it is still -26.19% lower than its most recent low trading price.

If we look at the average trading volume of 562.70K shares, FTFT reached to a volume of 3708668 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Future FinTech Group Inc. [FTFT]:

The Average True Range (ATR) for Future FinTech Group Inc. is set at 0.06, with the Price to Sales ratio for FTFT stock in the period of the last 12 months amounting to 1.26. The Price to Book ratio for the last quarter was 0.47, with the Price to Cash per share for the same quarter was set at 0.79.

Trading performance analysis for FTFT stock

Future FinTech Group Inc. [FTFT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.56. With this latest performance, FTFT shares gained by 0.19% in over the last four-week period, additionally sinking by -63.24% over the last 6 months – not to mention a drop of -83.08% 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 51.39, with the RSI for the last a single of trading hit 59.44, and the three-weeks RSI is set at 47.25 for Future FinTech Group Inc. [FTFT]. The present Moving Average for the last 50 days of trading for this stock 0.6021, while it was recorded at 0.4931 for the last single week of trading, and 1.2695 for the last 200 days.

Future FinTech Group Inc. [FTFT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Future FinTech Group Inc. [FTFT] shares currently have an operating margin of -49.61 and a Gross Margin at +6.94. Future FinTech Group Inc.’s Net Margin is presently recorded at -44.73.

Return on Equity for this stock declined to -24.84, with Return on Assets sitting at -20.83.

Future FinTech Group Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 7.20.

Future FinTech Group Inc. [FTFT]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Future FinTech Group Inc. [FTFT]

There are presently around $2 million, or 4.60% of FTFT stock, in the hands of institutional investors. The top three institutional holders of FTFT stocks are: MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. with ownership of 1,646,306, which is approximately 164.655% of the company’s market cap and around 39.51% of the total institutional ownership; MARSHALL WACE, LLP, holding 957,225 shares of the stock with an approximate value of $0.46 million in FTFT stocks shares; and DEKABANK DEUTSCHE GIROZENTRALE, currently with $95000.0 in FTFT stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Future FinTech Group Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 8 institutional holders increased their position in Future FinTech Group Inc. [NASDAQ:FTFT] by around 1,314,868 shares. Additionally, 19 investors decreased positions by around 2,312,664 shares, while 4 investors held positions by with 237,379 shares. The mentioned changes placed institutional holdings at 3,390,153 shares, according to the latest SEC report filing. FTFT stock had 4 new institutional investments in for a total of 131,068 shares, while 10 institutional investors sold positions of 733,768 shares during the same period.