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

BitFuFu Inc. (NASDAQ:FUFU) was the recipient of a significant drop in short interest in 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. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 80,884 shares, the short-interest ratio is currently 3.5 days. 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 stock are short sold.

BitFuFu Trading Down 3.6%

FUFU stock traded down $0.10 during midday trading on Wednesday, hitting $2.68. The stock had a trading volume of 50,669 shares, compared to its average volume of 79,434. 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 firm has a market cap of $446.17 million, a P/E ratio of 6.87 and a beta of 0.33. The business has a fifty day moving average price of $2.90 and a two-hundred day moving average price of $3.37. BitFuFu has a 1-year low of $2.38 and a 1-year high of $5.85.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 16.60% and a net margin of 13.57%. On average, sell-side analysts predict that BitFuFu will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On BitFuFu

Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of BitFuFu by 51.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 247,703 shares of the company’s stock valued at $929,000 after buying an additional 83,984 shares during the period. Vident Advisory LLC boosted its holdings in BitFuFu by 24.3% in the second 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. Vontobel Holding Ltd. acquired a new stake in BitFuFu in the third quarter valued at approximately $521,000. Harvest Portfolios Group Inc. increased its holdings in shares of BitFuFu by 153.9% during the third quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company’s stock valued at $420,000 after acquiring an additional 67,882 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in shares of BitFuFu during the second quarter valued at approximately $321,000. Institutional investors and hedge funds 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.