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

BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 462,900 shares, a growth of 39.9% from the May 15th total of 330,900 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average trading volume of 349,900 shares, the short-interest ratio is presently 1.3 days.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of BitFuFu in a research report on Friday, June 6th.

BitFuFu Stock Performance

FUFU stock traded up $0.21 during midday trading on Monday, hitting $3.28. The stock had a trading volume of 258,731 shares, compared to its average volume of 219,322. BitFuFu has a 52 week low of $2.91 and a 52 week high of $7.39. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88. The stock has a 50-day simple moving average of $3.77 and a 200 day simple moving average of $4.59. The firm has a market capitalization of $534.99 million, a price-to-earnings ratio of 164.00 and a beta of 0.33.

BitFuFu (NASDAQ:FUFU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.14). The business had revenue of $99.82 million for the quarter, compared to the consensus estimate of $114.03 million. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. As a group, equities research analysts anticipate that BitFuFu will post 0.17 earnings per share for the current year.

Institutional Investors Weigh In On BitFuFu

A number of institutional investors have recently added to or reduced their stakes in FUFU. Prospect Financial Group LLC acquired a new position in shares of BitFuFu in the 4th quarter worth approximately $50,000. Wedbush Securities Inc. bought a new stake in BitFuFu in the first quarter valued at $50,000. Jane Street Group LLC acquired a new position in BitFuFu during the first quarter worth $57,000. OLD Mission Capital LLC acquired a new position in BitFuFu during the fourth quarter worth $67,000. Finally, WINTON GROUP Ltd bought a new position in shares of BitFuFu during the fourth quarter valued at $83,000. 37.26% of the stock is owned by institutional investors and hedge funds.

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.

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