Short Interest in BitFuFu Inc. (NASDAQ:FUFU) Rises By 17.0%

BitFuFu Inc. (NASDAQ:FUFU) saw a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 159,124 shares, a growth of 17.0% from the February 12th total of 135,975 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 47,125 shares, the short-interest ratio is presently 3.4 days. Based on an average daily volume of 47,125 shares, the short-interest ratio is presently 3.4 days. Approximately 0.1% of the company’s shares are short sold.

BitFuFu Trading Down 4.5%

Shares of NASDAQ:FUFU opened at $2.33 on Tuesday. BitFuFu has a 52 week low of $2.05 and a 52 week high of $5.85. The company’s 50 day moving average is $2.72 and its two-hundred day moving average is $3.11. The company has a market cap of $387.90 million, a PE ratio of 5.97 and a beta of 0.35. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.47.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of BitFuFu in a research report on Wednesday, January 21st. B. Riley Financial cut their target price on shares of BitFuFu from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Finally, Zacks Research cut shares of BitFuFu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BitFuFu currently has a consensus rating of “Hold” and an average price target of $6.13.

Hedge Funds Weigh In On BitFuFu

Large investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new stake in BitFuFu in the first quarter valued at $57,000. Invesco Ltd. acquired a new position in shares of BitFuFu during the 2nd quarter worth about $321,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of BitFuFu in the 2nd quarter valued at about $529,000. Engineers Gate Manager LP purchased a new position in shares of BitFuFu in the 2nd quarter valued at about $36,000. Finally, Vident Advisory LLC raised 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 acquiring an additional 47,987 shares in the last quarter. Hedge funds and other institutional investors own 37.26% of the company’s stock.

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.