BitFuFu Inc. (NASDAQ:FUFU) Short Interest Update

BitFuFu Inc. (NASDAQ:FUFU) was the target of a large drop in short interest in March. As of March 13th, there was short interest totaling 113,479 shares, a drop of 28.7% from the February 26th total of 159,124 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 104,625 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Trading of BitFuFu

A number of institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in BitFuFu during the second quarter valued at $529,000. Vontobel Holding Ltd. bought a new stake in shares of BitFuFu in the 3rd quarter worth about $521,000. Invesco Ltd. purchased a new position in shares of BitFuFu during the 2nd quarter worth about $321,000. Harvest Portfolios Group Inc. boosted its stake in shares of BitFuFu by 153.9% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company’s stock worth $420,000 after purchasing an additional 67,882 shares during the period. Finally, Vident Advisory LLC grew its holdings in BitFuFu by 24.3% during the 2nd quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock valued at $793,000 after purchasing an additional 47,987 shares during the last quarter. 37.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on FUFU shares. HC Wainwright decreased their price objective on BitFuFu from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Wall Street Zen lowered shares of BitFuFu from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (d+)” rating on shares of BitFuFu in a research report on Wednesday, January 21st. Finally, Zacks Research downgraded shares of BitFuFu from a “hold” rating to a “strong sell” rating in a research note on Friday, March 20th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.38.

BitFuFu Trading Down 0.5%

NASDAQ FUFU traded down $0.01 during trading hours on Friday, hitting $1.89. 78,056 shares of the company were exchanged, compared to its average volume of 159,723. The stock has a 50-day moving average price of $2.51 and a 200 day moving average price of $3.00. The company has a quick ratio of 2.58, a current ratio of 2.94 and a debt-to-equity ratio of 0.77. BitFuFu has a 52 week low of $1.56 and a 52 week high of $5.38. The stock has a market cap of $314.65 million, a PE ratio of -5.56 and a beta of 0.35.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings data on Friday, March 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The company had revenue of $91.80 million for the quarter, compared to analysts’ expectations of $105.15 million. BitFuFu had a negative net margin of 12.06% and a negative return on equity of 13.82%. Analysts forecast that BitFuFu will post 0.17 earnings per share for the current fiscal year.

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.