Fold (NASDAQ:FLD) Upgraded to Hold at Wall Street Zen

Key Points

• Fold (NASDAQ:FLD) has been upgraded by Wall Street Zen from a “sell” rating to a “hold” rating, while Weiss Ratings maintained a “sell” rating on the stock.
• The company's recent earnings report showed a loss of ($0.18) per share, which missed the consensus estimate, although revenue for the quarter was above analyst expectations at $8.18 million.
• Fold's shares opened at $3.85 and have a consensus target price of $7.83, reflecting a “Moderate Buy” rating overall from analysts.

Fold (NASDAQ:FLD - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Other research analysts have also recently issued reports about the company. Weiss Ratings restated a "sell (d)" rating on shares of Fold in a report on Wednesday. Cantor Fitzgerald started coverage on Fold in a report on Monday, July 28th. They set an "overweight" rating and a $6.50 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fold has a consensus rating of "Moderate Buy" and a consensus target price of $7.83.

Fold Stock Down 1.5%

Shares of Fold stock opened at $3.85 on Friday. The stock's 50 day simple moving average is $3.74 and its 200-day simple moving average is $4.18. Fold has a 1-year low of $2.51 and a 1-year high of $14.00. 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 issued its 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 during the quarter, compared to analyst estimates of $8.07 million.

Institutional Trading of Fold

Institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Fold during the 2nd quarter valued at approximately $25,000. FNY Investment Advisers LLC purchased a new stake in shares of Fold during the 2nd quarter valued at approximately $29,000. North Capital Inc. purchased a new stake in Fold in the second quarter valued at approximately $30,000. Harvest Portfolios Group Inc. purchased a new stake in Fold in the second quarter valued at approximately $43,000. Finally, Van Hulzen Asset Management LLC purchased a new stake in Fold in the second quarter valued at approximately $43,000. Hedge funds and other institutional investors 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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