BitFuFu Inc. (NASDAQ:FUFU) Sees Large Decline in Short Interest

BitFuFu Inc. (NASDAQ:FUFU) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 399,700 shares, a decrease of 8.5% from the October 15th total of 436,600 shares. Based on an average trading volume of 80,300 shares, the short-interest ratio is presently 5.0 days. Approximately 2.7% of the shares of the stock are short sold.

Institutional Investors Weigh In On BitFuFu

Several large investors have recently bought and sold shares of FUFU. Wellington Management Group LLP bought a new stake in shares of BitFuFu in the 3rd quarter worth about $110,000. XTX Topco Ltd purchased a new position in BitFuFu in the third quarter worth about $107,000. Finally, Jane Street Group LLC increased its stake in BitFuFu by 14.0% during the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock worth $65,000 after acquiring an additional 1,984 shares during the last quarter. Institutional investors own 37.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright started coverage on BitFuFu in a research note on Wednesday, November 6th. They issued a “buy” rating and a $7.00 price target for the company.

BitFuFu Stock Performance

FUFU stock traded up $0.32 during mid-day trading on Monday, hitting $5.72. The company had a trading volume of 276,922 shares, compared to its average volume of 200,047. The company has a 50-day moving average price of $4.58 and a 200 day moving average price of $4.33. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88. BitFuFu has a 12-month low of $2.32 and a 12-month high of $18.32.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.01 EPS for the quarter. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. The company had revenue of $129.42 million during the quarter. On average, research analysts predict that BitFuFu will post 0.17 EPS for the current year.

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.