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

BitFuFu Inc. (NASDAQ:FUFU) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 417,500 shares, an increase of 7.3% from the November 15th total of 389,200 shares. Based on an average daily volume of 116,900 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.6% of the company’s shares are sold short.

Hedge Funds Weigh In On BitFuFu

Several institutional investors have recently added to or reduced their stakes in FUFU. XTX Topco Ltd acquired a new position in shares of BitFuFu during the third quarter worth approximately $107,000. Jane Street Group LLC grew its stake in BitFuFu by 14.0% during the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock worth $65,000 after buying an additional 1,984 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in BitFuFu in the third quarter worth $110,000. Institutional investors and hedge funds own 37.26% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of BitFuFu in a report on Monday, December 9th.

BitFuFu Trading Down 0.5 %

Shares of FUFU stock traded down $0.03 during mid-day trading on Tuesday, reaching $5.62. The stock had a trading volume of 185,154 shares, compared to its average volume of 197,647. BitFuFu has a 1-year low of $2.32 and a 1-year high of $18.32. The business’s fifty day moving average is $5.02 and its 200-day moving average is $4.64. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88.

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.