Fold Holdings, Inc. (NASDAQ:FLD) Short Interest Up 248.6% in September

Key Points

• Fold Holdings, Inc. experienced a dramatic 248.6% increase in short interest in September, with total short interest reaching 1,080,000 shares as of September 30th.
• Hedge funds and institutional investors own approximately 56.89% of Fold's stock, indicating significant interest from major financial entities, with several new stakes acquired during the second quarter.
• Analyst ratings for Fold are mixed, with one analyst rating it as a "Strong Buy" while others have given it ratings ranging from "Buy" to "Sell," resulting in an average rating of "Moderate Buy" with a consensus target price of $7.83.

Fold Holdings, Inc. (NASDAQ:FLD - Get Free Report) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 1,080,000 shares, an increase of 248.6% from the September 15th total of 309,800 shares. Approximately 10.1% of the shares of the company are sold short. Based on an average daily trading volume, of 770,300 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily trading volume, of 770,300 shares, the days-to-cover ratio is currently 1.4 days. Approximately 10.1% of the shares of the company are sold short.

Hedge Funds Weigh In On Fold

Institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new stake in Fold during the second quarter worth $25,000. North Capital Inc. purchased a new stake in shares of Fold during the 2nd quarter worth $30,000. FNY Investment Advisers LLC bought a new stake in shares of Fold in the 2nd quarter valued at about $29,000. Harvest Portfolios Group Inc. purchased a new position in shares of Fold in the 2nd quarter worth approximately $43,000. Finally, Van Hulzen Asset Management LLC purchased a new stake in Fold during the second quarter valued at approximately $43,000. 56.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Fold in a report on Wednesday, October 8th. Wall Street Zen upgraded Fold from a "sell" rating to a "hold" rating in a research report on Saturday, October 11th. Finally, Cantor Fitzgerald assumed coverage on shares of Fold in a research note on Monday, July 28th. They set an "overweight" rating and a $6.50 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $7.83.

Fold Price Performance

Fold stock remained flat at $3.80 during trading hours on Friday. 155,765 shares of the company's stock traded hands, compared to its average volume of 1,841,690. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.60 and a quick ratio of 1.58. The business's 50-day simple moving average is $3.72 and its 200-day simple moving average is $4.10. Fold has a 12 month low of $2.51 and a 12 month high of $14.00.

Fold (NASDAQ:FLD - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.08). The business had revenue of $8.18 million during the quarter, compared to analyst estimates of $8.07 million.

About Fold

FTAC Emerald Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, and similar business combination with one or more businesses or assets operating in the clean/renewable energy, water sustainability, agricultural technology, shared economy software, and mobility sectors.

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