BitFuFu Inc. (NASDAQ:FUFU) Short Interest Down 42.0% in January

BitFuFu Inc. (NASDAQ:FUFU) was the recipient of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 164,090 shares, a decrease of 42.0% from the January 15th total of 282,986 shares. Based on an average daily volume of 77,820 shares, the short-interest ratio is currently 2.1 days. Approximately 0.2% of the shares of the company are sold short. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 77,820 shares, the short-interest ratio is currently 2.1 days.

Institutional Investors Weigh In On BitFuFu

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC boosted 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 valued at $51,000 after buying an additional 3,192 shares during the last quarter. Renaissance Technologies LLC increased its stake in BitFuFu by 24.7% in the 4th quarter. Renaissance Technologies LLC now owns 54,000 shares of the company’s stock worth $143,000 after acquiring an additional 10,700 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of BitFuFu during the 2nd quarter worth approximately $36,000. Prelude Capital Management LLC bought a new position in shares of BitFuFu during the 3rd quarter valued at approximately $48,000. Finally, Squarepoint Ops LLC purchased a new position in shares of BitFuFu in the third quarter valued at $48,000. 37.26% of the stock is currently owned by hedge funds and other institutional investors.

BitFuFu Price Performance

NASDAQ:FUFU traded down $0.06 on Friday, reaching $2.41. 172,973 shares of the company’s stock traded hands, compared to its average volume of 84,382. The firm has a market cap of $401.22 million, a PE ratio of 6.18 and a beta of 0.33. 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 50-day simple moving average of $2.85 and a 200-day simple moving average of $3.31. BitFuFu has a 12 month low of $2.36 and a 12 month high of $5.85.

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 the consensus estimate of $0.03 by $0.03. BitFuFu had a return on equity of 16.60% and a net margin of 13.57%.The business had revenue of $180.67 million during the quarter, compared to the consensus estimate of $130.17 million. Equities research analysts forecast that BitFuFu will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on FUFU. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of BitFuFu in a report on Thursday, November 13th. B. Riley Financial cut their price objective on shares of 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 cut BitFuFu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.