BitFuFu Inc. (NASDAQ:FUFU) Short Interest Update

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

Institutional Investors Weigh In On BitFuFu

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. raised its position in shares of BitFuFu by 26.8% during the fourth quarter. Invesco Ltd. now owns 89,736 shares of the company’s stock worth $237,000 after purchasing an additional 18,967 shares during the period. Vident Advisory LLC raised its position in shares of BitFuFu by 17.3% during the fourth quarter. Vident Advisory LLC now owns 223,893 shares of the company’s stock worth $591,000 after purchasing an additional 33,052 shares during the period. Boothbay Fund Management LLC acquired a new stake in shares of BitFuFu during the fourth quarter worth $31,000. RPO LLC acquired a new stake in shares of BitFuFu during the fourth quarter worth $61,000. Finally, Vontobel Holding Ltd. raised its position in shares of BitFuFu by 12.6% during the fourth quarter. Vontobel Holding Ltd. now owns 156,986 shares of the company’s stock worth $413,000 after purchasing an additional 17,605 shares during the period. 37.26% of the stock is owned by institutional investors and hedge funds.

BitFuFu Price Performance

Shares of NASDAQ FUFU opened at $1.68 on Thursday. BitFuFu has a 1-year low of $1.56 and a 1-year high of $5.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.16 and a quick ratio of 4.16. The business’s fifty day moving average price is $2.04 and its two-hundred day moving average price is $2.41. The firm has a market capitalization of $279.90 million, a PE ratio of -3.82 and a beta of 0.42.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of BitFuFu from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings downgraded shares of BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 4th. HC Wainwright decreased their price target on shares of BitFuFu from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Finally, Zacks Research downgraded shares of BitFuFu from a “hold” rating to a “strong sell” rating in a research report on Friday, May 22nd. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.33.

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.