Short Interest in BitFuFu Inc. (NASDAQ:FUFU) Expands By 35.9%

BitFuFu Inc. (NASDAQ:FUFU) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 396,600 shares, a growth of 35.9% from the February 13th total of 291,800 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 159,100 shares, the days-to-cover ratio is currently 2.5 days.

BitFuFu Price Performance

Shares of NASDAQ:FUFU traded up $0.18 during midday trading on Monday, reaching $4.61. The company had a trading volume of 205,009 shares, compared to its average volume of 156,288. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09. The business’s 50 day moving average price is $5.02 and its 200 day moving average price is $4.91. BitFuFu has a 1-year low of $2.32 and a 1-year high of $7.39.

Institutional Trading of BitFuFu

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC raised its stake in BitFuFu by 14.0% in the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after buying an additional 1,984 shares during the period. Prospect Financial Group LLC bought a new stake in BitFuFu in the fourth quarter valued at approximately $50,000. OLD Mission Capital LLC bought a new stake in BitFuFu in the fourth quarter valued at approximately $67,000. WINTON GROUP Ltd bought a new stake in BitFuFu in the fourth quarter valued at approximately $83,000. Finally, XTX Topco Ltd bought a new stake in BitFuFu in the third quarter valued at approximately $107,000. Institutional investors and hedge funds own 37.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of BitFuFu in a research note on Friday, February 21st.

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.