Fold (NASDAQ:FLD) Stock Rating Upgraded by Wall Street Zen

Key Points

• Fold (NASDAQ:FLD) was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, signaling a potential stabilization in the stock's outlook.
• The company reported a loss of $0.18 per share for the last quarter, which was below the consensus estimate of a $0.10 loss, despite revenue of $8.18 million exceeding expectations.
• Hedge funds and institutional investors own 56.89% of Fold's stock, indicating significant backing from larger investment entities.

Wall Street Zen upgraded shares of Fold (NASDAQ:FLD - Free Report) from a sell rating to a hold rating in a research note released on Sunday morning.

FLD has been the topic of several other research reports. Cantor Fitzgerald assumed coverage on shares of Fold in a research report on Monday, July 28th. They set an "overweight" rating and a $6.50 price target on the stock. Northland Capmk raised shares of Fold to a "strong-buy" rating in a research report on Tuesday, May 27th. Finally, Northland Securities initiated coverage on shares of Fold in a report on Tuesday, May 27th. They issued an "outperform" rating and a $10.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Fold has an average rating of "Buy" and an average target price of $7.83.

Fold Trading Down 1.6%

Shares of FLD stock traded down $0.06 on Friday, hitting $3.58. 370,318 shares of the stock traded hands, compared to its average volume of 255,346. The firm's 50-day moving average price is $4.20 and its two-hundred day moving average price is $5.00. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.90. Fold has a twelve month low of $2.51 and a twelve month high of $14.00.

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

Institutional Trading of Fold

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baird Financial Group Inc. purchased a new stake in Fold during the second quarter worth about $445,000. Van Hulzen Asset Management LLC acquired a new position in shares of Fold during the second quarter worth about $43,000. DLD Asset Management LP acquired a new position in shares of Fold during the second quarter worth about $102,000. Geode Capital Management LLC acquired a new position in shares of Fold during the second quarter worth about $749,000. Finally, Harvest Portfolios Group Inc. acquired a new position in shares of Fold during the second quarter worth about $43,000. 56.89% of the stock is currently owned by hedge funds and other institutional investors.

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.