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

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

BitFuFu Price Performance

FUFU stock traded up $0.05 during midday trading on Tuesday, reaching $2.78. The stock had a trading volume of 112,182 shares, compared to its average volume of 72,489. BitFuFu has a 52-week low of $2.38 and a 52-week high of $5.85. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $2.90 and its 200 day simple moving average is $3.37. The company has a market cap of $462.81 million, a price-to-earnings ratio of 7.13 and a beta of 0.33.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $180.67 million for the quarter, compared to analyst estimates of $130.17 million. BitFuFu had a net margin of 13.57% and a return on equity of 16.60%. As a group, sell-side analysts predict that BitFuFu will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BitFuFu

A number of institutional investors have recently added to or reduced their stakes in FUFU. Harvest Portfolios Group Inc. purchased a new position in shares of BitFuFu during the 2nd quarter worth $142,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of BitFuFu by 51.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 247,703 shares of the company’s stock valued at $929,000 after purchasing an additional 83,984 shares during the period. Vident Advisory LLC increased its position in BitFuFu by 24.3% during the second quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock worth $793,000 after purchasing an additional 47,987 shares during the last quarter. Jane Street Group LLC raised its stake 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 purchasing an additional 3,192 shares during the period. Finally, Invesco Ltd. purchased a new position in BitFuFu during the second quarter worth about $321,000. Hedge funds and other institutional investors own 37.26% of the company’s stock.

Analysts Set New Price Targets

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

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.