Fold (NASDAQ:FLD) Stock Price Down 7.3% - What's Next?

Key Points

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Fold Holdings, Inc. (NASDAQ:FLD - Get Free Report) fell 7.3% during mid-day trading on Monday . The stock traded as low as $3.64 and last traded at $3.68. 316,422 shares changed hands during trading, an increase of 101% from the average session volume of 157,155 shares. The stock had previously closed at $3.97.

Analysts Set New Price Targets

Several research firms recently issued reports on FLD. Cantor Fitzgerald began coverage on shares of Fold in a report on Monday, July 28th. They set an "overweight" rating and a $6.50 price objective for the company. Northland Securities began coverage on shares of Fold in a report on Tuesday, May 27th. They set an "outperform" rating and a $10.00 price objective for the company. Finally, Northland Capmk raised shares of Fold to a "strong-buy" rating in a report on Tuesday, May 27th.

Fold Stock Down 7.3%

The company's 50 day moving average is $4.39 and its 200 day moving average is $5.38. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.58 and a current ratio of 1.60.

Fold (NASDAQ:FLD - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate 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.

Hedge Funds Weigh In On Fold

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC acquired a new stake in shares of Fold during the 2nd quarter worth about $749,000. Baird Financial Group Inc. acquired a new stake in shares of Fold during the 2nd quarter worth about $445,000. DLD Asset Management LP acquired a new stake in shares of Fold during the 2nd quarter worth about $102,000. Van Hulzen Asset Management LLC acquired a new stake in shares of Fold during the 2nd quarter worth about $43,000. Finally, Harvest Portfolios Group Inc. acquired a new stake in shares of Fold during the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 56.89% of the company's stock.

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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