Short Interest in BitFuFu Inc. (NASDAQ:FUFU) Sees Significant Increase

BitFuFu Inc. (NASDAQ:FUFU) experienced a notable rise in short interest during February. By the end of the month on February 28th, short interest reached a total of 396,600 shares, reflecting a substantial increase of 35.9% compared to the total of 291,800 shares recorded on February 13th. This translates to 2.5% of the company’s total shares currently being sold short. With an average trading volume of 159,100 shares, the current short-interest ratio stands at 2.5 days.

BitFuFu Stock Performance

On the trading front, shares of BitFuFu saw a slight increase of $0.20 on the last Friday, bringing the stock price to $4.43. The trading volume for the day reached 199,898 shares, which is just above the average volume of 156,092 shares for the company. Over the past year, BitFuFu’s stock has fluctuated between a low of $2.32 and a high of $7.39. Financially, the company shows a current ratio of 4.09, a quick ratio of 4.09, and a debt-to-equity ratio of 0.88. The 50-day moving average for the stock is $5.02, while the 200-day moving average sits at $4.90.

Institutional Trading of BitFuFu

Various institutional investors and hedge funds have recently made adjustments to their holdings in FUFU. For instance, Wellington Management Group LLP initiated a new position in BitFuFu shares during the third quarter, investing about $110,000. In a similar vein, XTX Topco Ltd added a stake worth approximately $107,000 during the same period. In the fourth quarter, WINTON GROUP Ltd acquired shares valued at around $83,000. Additionally, Jane Street Group LLC increased its position in BitFuFu by 14.0% in the third quarter, now holding 16,153 shares worth $65,000 after acquiring an extra 1,984 shares. Furthermore, OLD Mission Capital LLC has also established a new position in BitFuFu, valued at approximately $67,000. In total, around 37.26% of the stock is currently owned by institutional investors.

Analyst Ratings

In terms of analyst opinions, HC Wainwright has reaffirmed a “buy” rating for BitFuFu shares and set a price target of $7.00 as per their report published on February 21st.

BitFuFu Company Overview

BitFuFu Inc. operates out of Singapore, providing services in digital asset mining and cloud mining. The company also offers miner rental, hosting, and sales services to both institutional clients and individual enthusiasts interested in digital assets.

Investment Considerations

Before contemplating an investment in BitFuFu, potential investors may want to conduct thorough research. Notably, while BitFuFu currently holds a “buy” rating among certain analysts, there are five other stocks that top analysts are favorably recommending, which could present better buying opportunities.

BitFuFu, Stocks, Trading