BitFuFu Inc. (NASDAQ:FUFU) Short Interest Down 16.1% in January

BitFuFu Inc. (NASDAQ:FUFU) saw a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 282,986 shares, a drop of 16.1% from the December 31st total of 337,379 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 80,884 shares, the short-interest ratio is currently 3.5 days. Based on an average daily volume of 80,884 shares, the short-interest ratio is currently 3.5 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Harvest Portfolios Group Inc. bought a new position in shares of BitFuFu during the second quarter valued at $142,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BitFuFu by 51.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 247,703 shares of the company’s stock worth $929,000 after purchasing an additional 83,984 shares in the last quarter. Vident Advisory LLC increased its position in shares of BitFuFu by 24.3% during the 2nd quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock worth $793,000 after purchasing an additional 47,987 shares in the last quarter. Jane Street Group LLC lifted its holdings in BitFuFu by 25.4% during the 2nd quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock valued at $51,000 after purchasing an additional 3,192 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in BitFuFu in the second quarter valued at about $321,000. 37.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FUFU has been the subject of a number of research analyst reports. Zacks Research lowered shares of BitFuFu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings restated a “sell (d+)” rating on shares of BitFuFu in a research note on Wednesday, January 21st. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of BitFuFu in a report on Thursday, November 13th. Finally, B. Riley reduced their price objective on BitFuFu from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.13.

BitFuFu Stock Performance

NASDAQ FUFU opened at $2.73 on Monday. BitFuFu has a twelve month low of $2.38 and a twelve month 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 has a market cap of $454.49 million, a P/E ratio of 7.00 and a beta of 0.33. The company’s 50-day simple moving average is $2.91 and its 200 day simple moving average is $3.39.

BitFuFu (NASDAQ:FUFU) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. BitFuFu had a return on equity of 16.60% and a net margin of 13.57%.The company had revenue of $180.67 million for the quarter, compared to the consensus estimate of $130.17 million. As a group, research analysts forecast that BitFuFu will post 0.17 earnings per share 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.