Fold (NASDAQ:FLD) Issues Earnings Results

Key Points

• Fold (NASDAQ:FLD) reported a quarterly earnings loss of ($0.18) EPS, missing analysts' expectations by ($0.08).
• Shares of Fold increased by $0.09 to close at $4.11 on the day of the earnings announcement, amid a trading volume below the average.
• Institutional investors, including Geode Capital Management LLC, have increased their stake in Fold, with hedge funds now owning 56.89% of the company's stock.

Fold (NASDAQ:FLD - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.08), Zacks reports.

Fold Stock Performance

Shares of FLD stock traded up $0.09 on Tuesday, reaching $4.11. 105,252 shares of the stock were exchanged, compared to its average volume of 280,683. The company has a current ratio of 2.20, a quick ratio of 2.16 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average of $4.45 and a two-hundred day moving average of $5.63. Fold has a 1-year low of $2.51 and a 1-year high of $14.00.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Fold in a research report on Monday, July 28th. They issued an "overweight" rating and a $6.50 price objective for the company. Northland Capmk raised shares of Fold to a "strong-buy" rating in a research report on Tuesday, May 27th. Northland Securities began coverage on shares of Fold in a research report on Tuesday, May 27th. They set an "outperform" rating and a $10.00 price target for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Fold in a research report on Monday, April 14th.

Institutional Investors Weigh In On Fold

A hedge fund recently bought a new stake in Fold stock. Geode Capital Management LLC acquired a new position in Fold Holdings, Inc. (NASDAQ:FLD - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 177,176 shares of the company's stock, valued at approximately $749,000. Geode Capital Management LLC owned approximately 0.38% of Fold as of its most recent SEC filing. Hedge funds and other institutional investors own 56.89% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.