BitFuFu Inc. (NASDAQ:FUFU) Short Interest Update

BitFuFu Inc. (NASDAQ:FUFU) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 473,272 shares, a decline of 16.9% from the November 30th total of 569,470 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 88,743 shares, the days-to-cover ratio is presently 5.3 days. Based on an average daily trading volume, of 88,743 shares, the days-to-cover ratio is presently 5.3 days. Approximately 0.4% of the shares of the stock are short sold.

BitFuFu Stock Up 1.1%

NASDAQ FUFU traded up $0.03 on Wednesday, reaching $2.56. The stock had a trading volume of 73,216 shares, compared to its average volume of 306,822. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.47. BitFuFu has a 1 year low of $2.38 and a 1 year high of $5.98. The business has a 50 day moving average price of $2.99 and a 200 day moving average price of $3.44. The company has a market capitalization of $426.03 million, a price-to-earnings ratio of 6.54 and a beta of 0.32.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The business 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 forecast that BitFuFu will post 0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of BitFuFu in a research report on Thursday, November 13th. B. Riley decreased their target price on BitFuFu from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Zacks Research lowered BitFuFu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of BitFuFu in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BitFuFu has an average rating of “Hold” and an average target price of $6.13.

Institutional Investors Weigh In On BitFuFu

Several hedge funds and other institutional investors have recently made changes to their positions in FUFU. Engineers Gate Manager LP bought a new stake in BitFuFu during the 2nd quarter valued at approximately $36,000. Squarepoint Ops LLC bought a new stake in shares of BitFuFu in the third quarter valued at approximately $48,000. Prelude Capital Management LLC acquired a new stake in shares of BitFuFu in the third quarter worth $48,000. Jane Street Group LLC increased its position in BitFuFu by 25.4% during the second 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 during the period. Finally, Harvest Portfolios Group Inc. acquired a new position in BitFuFu during the 2nd quarter valued at $142,000. 37.26% of the stock is owned by institutional investors and hedge funds.

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.