BitFuFu Inc. (NASDAQ:FUFU) Short Interest Update

BitFuFu Inc. (NASDAQ:FUFU) was the recipient of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 105,202 shares, a decline of 35.5% from the May 14th total of 163,149 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 246,854 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of BitFuFu from a “hold” rating to a “strong sell” rating in a research note on Friday, May 22nd. Weiss Ratings lowered shares of BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. HC Wainwright reduced their target price on shares of BitFuFu from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Finally, Wall Street Zen lowered shares of BitFuFu from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, BitFuFu presently has an average rating of “Hold” and a consensus price target of $5.38.

Institutional Trading of BitFuFu

Institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP acquired a new stake in shares of BitFuFu in the 2nd quarter worth approximately $36,000. Jane Street Group LLC lifted its stake in BitFuFu by 25.4% during the second quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock valued at $51,000 after purchasing an additional 3,192 shares during the last quarter. Vident Advisory LLC lifted its stake in BitFuFu by 24.3% during the second quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock valued at $793,000 after purchasing an additional 47,987 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in BitFuFu during the second quarter valued at approximately $529,000. Finally, Vontobel Holding Ltd. lifted its stake in BitFuFu by 12.6% during the fourth quarter. Vontobel Holding Ltd. now owns 156,986 shares of the company’s stock valued at $413,000 after purchasing an additional 17,605 shares during the last quarter. 37.26% of the stock is owned by institutional investors and hedge funds.

BitFuFu Price Performance

Shares of NASDAQ:FUFU traded down $0.05 during trading on Wednesday, reaching $1.74. The company had a trading volume of 116,853 shares, compared to its average volume of 180,547. The firm’s fifty day moving average is $2.05 and its 200 day moving average is $2.42. The firm has a market capitalization of $289.91 million, a PE ratio of -3.95 and a beta of 0.42. BitFuFu has a twelve month low of $1.56 and a twelve month high of $5.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.16 and a current ratio of 4.16.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings results on Saturday, March 21st. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The company had revenue of $103.42 million during the quarter, compared to analyst estimates of $105.15 million. BitFuFu had a negative return on equity of 3.81% and a negative net margin of 16.06%. On average, equities analysts forecast that BitFuFu will post 0.11 EPS for the current year.

BitFuFu Company Profile

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.