BitFuFu Inc. (NASDAQ:FUFU) Short Interest Down 8.5% in October

BitFuFu Inc. (NASDAQ:FUFU) was the target of a large decrease in short interest in 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. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily volume of 80,300 shares, the days-to-cover ratio is presently 5.0 days.

BitFuFu Stock Up 5.9 %

BitFuFu stock traded up $0.32 during midday trading on Monday, reaching $5.72. 276,922 shares of the company traded hands, compared to its average volume of 200,047. The business has a 50 day moving average of $4.58 and a two-hundred day moving average of $4.33. BitFuFu has a 12 month low of $2.32 and a 12 month high of $18.32. 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 (NASDAQ:FUFU) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.01 earnings per share for the quarter. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. The firm had revenue of $129.42 million during the quarter. Analysts anticipate that BitFuFu will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright started coverage on shares of BitFuFu in a report on Wednesday, November 6th. They set a “buy” rating and a $7.00 target price on the stock.

Institutional Trading of BitFuFu

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC lifted its position in BitFuFu by 14.0% during the 3rd 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 period. XTX Topco Ltd purchased a new position in shares of BitFuFu in the 3rd quarter valued at about $107,000. Finally, Wellington Management Group LLP purchased a new position in shares of BitFuFu in the 3rd quarter valued at about $110,000. Institutional investors own 37.26% of the company’s stock.

BitFuFu Company Profile

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.