Fold (NASDAQ:FLD) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Fold has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen amid evolving market perceptions.
• Despite the downgrade, Cantor Fitzgerald recently initiated coverage with an "overweight" rating and a price target of $6.50, showing mixed analyst sentiment.
• Fold's recent quarterly earnings reported a loss of ($0.18) EPS, missing expectations, although revenue slightly surpassed estimates at $8.18 million.

Fold (NASDAQ:FLD - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Friday.

Separately, Cantor Fitzgerald began coverage on Fold in a research report on Monday, July 28th. They set an "overweight" rating and a $6.50 price objective for the company. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $7.83.

Fold Stock Up 2.8%

NASDAQ:FLD traded up $0.10 during mid-day trading on Friday, reaching $3.68. The stock had a trading volume of 501,749 shares, compared to its average volume of 1,827,623. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.60 and a quick ratio of 1.58. Fold has a twelve month low of $2.51 and a twelve month high of $14.00. The business has a 50 day simple moving average of $3.82 and a 200 day simple moving average of $4.41.

Fold (NASDAQ:FLD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.08). The company had revenue of $8.18 million for the quarter, compared to analysts' expectations of $8.07 million.

Institutional Trading of Fold

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

Fold Company Profile

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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