BitFuFu Inc. (NASDAQ:FUFU) Short Interest Down 35.5% in May

BitFuFu Inc. (NASDAQ:FUFU) was the target of a significant decline in short interest in 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 company’s stock are short sold. Based on an average trading volume of 246,854 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FUFU shares. Wall Street Zen downgraded shares of BitFuFu from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Zacks Research downgraded shares of BitFuFu from a “hold” rating to a “strong sell” rating in a research note on Friday, May 22nd. Weiss Ratings downgraded shares of BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Finally, HC Wainwright lowered 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. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, BitFuFu presently has an average rating of “Hold” and a consensus target price of $5.38.

BitFuFu Stock Up 1.4%

Shares of FUFU stock traded up $0.03 on Tuesday, reaching $1.86. 158,825 shares of the stock were exchanged, compared to its average volume of 180,592. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average price is $2.05 and its 200 day moving average price is $2.43. The company has a market capitalization of $309.06 million, a price-to-earnings ratio of -4.22 and a beta of 0.42. BitFuFu has a twelve month low of $1.56 and a twelve month high of $5.38.

BitFuFu (NASDAQ:FUFU) last issued its earnings results on Saturday, March 21st. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $103.42 million for the quarter, compared to analyst estimates of $105.15 million. As a group, sell-side analysts expect that BitFuFu will post 0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BitFuFu

Institutional investors and hedge funds have recently made changes to their positions in the business. Vident Advisory LLC raised its holdings in shares of BitFuFu by 17.3% in the fourth quarter. Vident Advisory LLC now owns 223,893 shares of the company’s stock valued at $591,000 after buying an additional 33,052 shares during the last quarter. RPO LLC purchased a new stake in shares of BitFuFu in the fourth quarter valued at about $61,000. Vontobel Holding Ltd. raised its holdings in shares of BitFuFu by 12.6% in the fourth quarter. Vontobel Holding Ltd. now owns 156,986 shares of the company’s stock valued at $413,000 after buying an additional 17,605 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of BitFuFu by 24.7% in the fourth quarter. Renaissance Technologies LLC now owns 54,000 shares of the company’s stock valued at $143,000 after buying an additional 10,700 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of BitFuFu in the second quarter valued at about $529,000. 37.26% of the stock is owned by hedge funds and other institutional investors.

About BitFuFu

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.