BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) was the recipient of a significant increase in short interest in 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. Currently, 2.6% of the shares of the stock are short sold. Based on an average trading volume of 116,900 shares, the days-to-cover ratio is currently 3.6 days.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC increased its stake 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 valued at $65,000 after buying an additional 1,984 shares during the period. XTX Topco Ltd acquired a new stake in BitFuFu during the 3rd quarter valued at approximately $107,000. Finally, Wellington Management Group LLP acquired a new stake in BitFuFu during the 3rd quarter valued at approximately $110,000. Institutional investors and hedge funds own 37.26% of the company's stock.
BitFuFu Stock Down 0.5 %
Shares of BitFuFu stock traded down $0.03 on Tuesday, hitting $5.62. The stock had a trading volume of 185,104 shares, compared to its average volume of 197,647. The stock has a 50 day moving average of $5.02 and a 200 day moving average of $4.64. BitFuFu has a twelve month low of $2.32 and a twelve month high of $18.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current 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 research note on Monday, December 9th.
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BitFuFu Company Profile
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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.
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