BitFuFu Inc. (NASDAQ:FUFU – Get Free Report) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 160,439 shares, a drop of 38.4% from the August 15th total of 260,270 shares. Based on an average daily volume of 237,739 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.1% of the company’s stock are short sold.
BitFuFu Stock Performance
FUFU stock traded up $0.06 during trading on Thursday, hitting $1.30. The company had a trading volume of 43,002 shares, compared to its average volume of 177,621. The firm has a 50-day moving average price of $1.36 and a 200-day moving average price of $1.77. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 1.03. The firm has a market cap of $216.59 million, a PE ratio of -1.55 and a beta of 0.45. BitFuFu has a 1-year low of $1.18 and a 1-year high of $4.09.
BitFuFu (NASDAQ:FUFU – Get Free Report) last posted its quarterly earnings data on Monday, August 17th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The company had revenue of $42.76 million for the quarter, compared to analyst estimates of $75.02 million. BitFuFu had a negative return on equity of 18.05% and a negative net margin of 36.00%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on FUFU shares. Wall Street Zen cut shares of BitFuFu from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings restated a “sell (d)” rating on shares of BitFuFu in a research note on Friday, July 31st. Finally, Zacks Research raised BitFuFu from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.00.
Check Out Our Latest Stock Report on BitFuFu
BitFuFu Company Profile
BitFuFu Limited is a digital asset mining services company that focuses primarily on Bitcoin mining and related infrastructure. The company provides cloud-mining services that allow customers to purchase or manage Bitcoin mining capacity without owning and operating mining equipment directly.
Its offerings also include Bitcoin self-mining, mining-farm hosting, hash-rate management and mining hardware sales. Through these services, BitFuFu supports individual and institutional customers with access to mining equipment, computing power and related operational capabilities.
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