BitFuFu Inc. (NASDAQ:FUFU) Short Interest Up 7.3% in November

BitFuFu Inc. (NASDAQ:FUFU) was the recipient of a significant increase in short interest during 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 trading volume, of 116,900 shares, the short-interest ratio is currently 3.6 days. Currently, 2.6% of the shares of the company are sold short.

BitFuFu Stock Down 0.5 %

FUFU traded down $0.03 during midday trading on Tuesday, hitting $5.62. 185,104 shares of the company were exchanged, compared to its average volume of 197,647. The company’s 50 day simple moving average is $5.02 and its 200 day simple moving average is $4.64. BitFuFu has a 1-year low of $2.32 and a 1-year high of $18.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09.

Analysts Set New Price Targets

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

Institutional Trading of BitFuFu

A number of hedge funds have recently modified their holdings of FUFU. Wellington Management Group LLP purchased a new stake in BitFuFu during the third quarter worth $110,000. XTX Topco Ltd acquired a new position in shares of BitFuFu in the third quarter worth about $107,000. Finally, Jane Street Group LLC raised its position in shares of BitFuFu by 14.0% in the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock worth $65,000 after acquiring an additional 1,984 shares during the period. Hedge funds and other institutional investors own 37.26% of the company’s stock.

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.