BitFuFu Inc. Short Interest Rises 35.9% in February

BitFuFu Inc. (NASDAQ:FUFU) experienced a significant rise in short interest during February. By February 28th, the total short interest reached 396,600 shares, marking a robust increase of 35.9% from the 291,800 shares reported on February 13th. Currently, 2.5% of the company's shares are shorted. With an average trading volume of 159,100 shares, the short-interest ratio stands at 2.5 days.

BitFuFu Stock Performance

On Friday, BitFuFu's stock traded up by $0.20, reaching a price of $4.43. A total of 199,898 shares were traded, surpassing the average daily volume of 156,092. Over the past year, the stock has hit a low of $2.32 and a high of $7.39. Financial metrics show a current ratio of 4.09, a quick ratio of 4.09, and a debt-to-equity ratio of 0.88. The company's 50-day moving average is $5.02, while the 200-day moving average is $4.90.

Institutional Trading of BitFuFu

Recently, several institutional investors and hedge funds have adjusted their positions in BitFuFu. Wellington Management Group LLP established a new stake in the company during the third quarter, investing approximately $110,000. Similarly, XTX Topco Ltd also acquired shares in the third quarter, investing about $107,000. In the fourth quarter, WINTON GROUP Ltd made a new investment valued at approximately $83,000. Additionally, Jane Street Group LLC increased its holdings by 14.0% during the third quarter, giving them a total of 16,153 shares worth $65,000 after acquiring an additional 1,984 shares. OLD Mission Capital LLC furthered its position in BitFuFu with a new investment worth about $67,000 in the fourth quarter, and it is reported that 37.26% of the company's stock is owned by institutional investors.

Analyst Ratings for BitFuFu

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

About BitFuFu Inc.

BitFuFu Inc. specializes in providing digital asset mining and cloud-mining services, headquartered in Singapore. The company also offers miner rental, hosting, and sales services catered to both institutional clients and individual digital asset enthusiasts.

Conclusion

As short interest in BitFuFu sees a notable increase, the company's stock performance and institutional interest continue to evolve. With analyst ratings supporting a positive outlook, it remains to be seen how these factors will impact the stock moving forward.

BitFuFu, Stocks, Investing