BitFuFu Inc. (NASDAQ:FUFU) Short Interest Down 42.0% in January

BitFuFu Inc. (NASDAQ:FUFU) was the recipient of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 164,090 shares, a drop of 42.0% from the January 15th total of 282,986 shares. Based on an average trading volume of 77,820 shares, the short-interest ratio is presently 2.1 days. Currently, 0.2% of the company’s shares are short sold. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 77,820 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of BitFuFu in a report on Thursday, November 13th. 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 note on Tuesday, November 18th. Finally, Zacks Research lowered shares of BitFuFu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.13.

Hedge Funds Weigh In On BitFuFu

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in BitFuFu during the 2nd quarter valued at about $529,000. Vontobel Holding Ltd. acquired a new stake in shares of BitFuFu during the third quarter worth $521,000. Invesco Ltd. acquired a new position in shares of BitFuFu in the 2nd quarter valued at $321,000. Harvest Portfolios Group Inc. raised its stake in BitFuFu by 153.9% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company’s stock worth $420,000 after acquiring an additional 67,882 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in BitFuFu by 24.3% during the 2nd 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. 37.26% of the stock is owned by institutional investors and hedge funds.

BitFuFu Stock Down 2.4%

Shares of NASDAQ FUFU traded down $0.06 during midday trading on Friday, reaching $2.41. 172,973 shares of the company’s stock traded hands, compared to its average volume of 84,382. The company has a market cap of $401.22 million, a price-to-earnings ratio of 6.18 and a beta of 0.33. BitFuFu has a one year low of $2.36 and a one year high of $5.85. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $2.85 and its 200-day simple moving average is $3.31.

BitFuFu (NASDAQ:FUFU) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $180.67 million during the quarter, compared to analyst estimates of $130.17 million. BitFuFu had a return on equity of 16.60% and a net margin of 13.57%. On average, analysts predict that BitFuFu will post 0.17 EPS for the current fiscal 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.