Short Interest in BitFuFu Inc. (NASDAQ:FUFU) Rises By 17.0%

BitFuFu Inc. (NASDAQ:FUFU) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 159,124 shares, an increase of 17.0% from the February 12th total of 135,975 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 47,125 shares, the days-to-cover ratio is presently 3.4 days. Based on an average daily trading volume, of 47,125 shares, the days-to-cover ratio is presently 3.4 days. Approximately 0.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

FUFU has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, January 21st. B. Riley Financial reduced their target price on BitFuFu from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Finally, Zacks Research lowered BitFuFu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.13.

Institutional Trading of BitFuFu

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FUFU. Boothbay Fund Management LLC purchased a new position in shares of BitFuFu during the fourth quarter worth $31,000. Engineers Gate Manager LP purchased a new stake in shares of BitFuFu in the 2nd quarter valued at $36,000. Squarepoint Ops LLC purchased a new stake in shares of BitFuFu in the 3rd quarter valued at $48,000. Prelude Capital Management LLC acquired a new position in BitFuFu during the 3rd quarter worth about $48,000. Finally, Jane Street Group LLC lifted its stake in BitFuFu by 25.4% during the 2nd quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock worth $51,000 after acquiring an additional 3,192 shares in the last quarter. Hedge funds and other institutional investors own 37.26% of the company’s stock.

BitFuFu Price Performance

Shares of FUFU opened at $2.33 on Tuesday. The firm has a 50-day simple moving average of $2.72 and a two-hundred day simple moving average of $3.11. The stock has a market cap of $387.90 million, a PE ratio of 5.97 and a beta of 0.35. BitFuFu has a 1-year low of $2.05 and a 1-year high of $5.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.58 and a quick ratio of 2.58.

About BitFuFu

BitFuFu Inc provides digital asset mining and cloud-mining services in Singapore. It also offers miner rental, and miner hosting and sales services to institutional customers and individual digital asset enthusiasts. The company is based in Singapore, Singapore.