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

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OLD Mission Capital LLC acquired a new stake in BitFuFu during the 4th quarter worth $67,000. WINTON GROUP Ltd acquired a new stake in BitFuFu during the 4th quarter worth $83,000. Prospect Financial Group LLC acquired a new stake in BitFuFu during the 4th quarter worth $50,000. XTX Topco Ltd acquired a new stake in BitFuFu during the 3rd quarter worth $107,000. Finally, Jane Street Group LLC raised its stake in BitFuFu by 14.0% during the 3rd 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 period. 37.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

BitFuFu Stock Up 4.1 %

Shares of NASDAQ:FUFU traded up $0.18 during midday trading on Monday, hitting $4.61. The company had a trading volume of 205,009 shares, compared to its average volume of 156,288. BitFuFu has a 12 month low of $2.32 and a 12 month high of $7.39. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $5.02 and a 200 day simple moving average of $4.91.

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.