BitFuFu Inc. (NASDAQ:FUFU) Short Interest Down 16.9% in December

BitFuFu Inc. (NASDAQ:FUFU) was the target of a significant decline in short interest in 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. Based on an average daily trading volume, of 88,743 shares, the short-interest ratio is presently 5.3 days. Currently, 0.4% of the shares of the company are sold short. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 88,743 shares, the short-interest ratio is presently 5.3 days.

BitFuFu Price Performance

Shares of FUFU opened at $2.64 on Friday. The business’s 50-day moving average is $2.96 and its two-hundred day moving average is $3.43. The company has a market capitalization of $439.51 million, a P/E ratio of 6.77 and a beta of 0.33. BitFuFu has a fifty-two week low of $2.38 and a fifty-two week high of $5.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.58 and a current ratio of 2.58.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings data 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 analysts’ expectations of $130.17 million. BitFuFu had a return on equity of 16.60% and a net margin of 13.57%. Research analysts predict that BitFuFu will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FUFU. Weiss Ratings reissued a “sell (d+)” rating on shares of BitFuFu in a research report on Wednesday, October 8th. B. Riley dropped their price target on BitFuFu from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Zacks Research cut BitFuFu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of BitFuFu in a research report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.13.

Institutional Investors Weigh In On BitFuFu

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Prelude Capital Management LLC purchased a new position in shares of BitFuFu during the 3rd quarter valued at approximately $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in BitFuFu by 51.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 247,703 shares of the company’s stock valued at $929,000 after buying an additional 83,984 shares during the period. Squarepoint Ops LLC purchased a new position in BitFuFu in the third quarter valued at $48,000. Harvest Portfolios Group Inc. increased its holdings in BitFuFu by 153.9% in the third quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company’s stock valued at $420,000 after buying an additional 67,882 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of BitFuFu in the third quarter worth about $521,000. Institutional investors and hedge funds own 37.26% of the company’s stock.

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.