Short Interest in BitFuFu Inc. (NASDAQ:FUFU) Sees a Significant Increase of 35.9%

BitFuFu Inc. (NASDAQ:FUFU) experienced a notable rise in its short interest during February. By February 28th, the total short interest had climbed to 396,600 shares, marking a significant increase of 35.9% from the 291,800 shares recorded on February 13th. This indicates that currently, 2.5% of the company's shares are sold short. Given the average trading volume of 159,100 shares, the short-interest ratio stands at 2.5 days, suggesting a moderate level of investor skepticism regarding the stock's performance.

BitFuFu Stock Performance

On the trading day before the report, BitFuFu's stock rose by $0.20, reaching a price of $4.43. A total of 199,898 shares changed hands, exceeding the average volume of 156,092 shares. Over the past year, BitFuFu experienced a low of $2.32 and a high of $7.39. Financial metrics reveal that the company maintains a current ratio of 4.09 and a quick ratio of 4.09, along with a debt-to-equity ratio of 0.88. Additionally, the stock has a 50-day moving average of $5.02 and a 200-day moving average of $4.90.

Institutional Trading of BitFuFu

Recently, several institutional investors and hedge funds have modified their positions in BitFuFu. For instance, in the third quarter, Wellington Management Group LLP entered a new stake in BitFuFu valued at about $110,000, while XTX Topco Ltd also acquired shares worth approximately $107,000. In the fourth quarter, WINTON GROUP Ltd purchased shares valued at around $83,000. Meanwhile, Jane Street Group LLC increased its position in BitFuFu by 14.0% in the third quarter, owning 16,153 shares worth $65,000 after adding 1,984 shares. OLD Mission Capital LLC also acquired a new stake during the fourth quarter, valued at about $67,000. Currently, institutional investors hold around 37.26% of the company's shares.

Analyst Opinions

In other news, HC Wainwright reaffirmed a "buy" rating for BitFuFu and set a target price of $7.00 on the shares in a report released on February 21st.

About BitFuFu

BitFuFu Inc. is a company that provides digital asset mining and cloud-mining services based in Singapore. The company also offers miner rental and hosting services to both institutional clients and individual digital asset users, ensuring a comprehensive range of services for its customers.

BitFuFu, Short, Stocks