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

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

Institutional Trading of BitFuFu

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its holdings in BitFuFu by 14.0% during the 3rd quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after purchasing an additional 1,984 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of BitFuFu in the third quarter valued at $107,000. Finally, Wellington Management Group LLP acquired a new stake in BitFuFu during the third quarter worth about $110,000. 37.26% of the stock is owned by institutional investors and hedge funds.

BitFuFu Price Performance

BitFuFu stock traded down $0.03 during midday trading on Tuesday, hitting $5.62. 185,154 shares of the company were exchanged, compared to its average volume of 197,647. The company’s fifty day moving average price is $5.02 and its 200-day moving average price is $4.64. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09. BitFuFu has a fifty-two week low of $2.32 and a fifty-two week high of $18.32.

Wall Street Analysts Forecast Growth

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

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.