BitFuFu (NASDAQ:FUFU) Shares Down 3.1% – Time to Sell?

BitFuFu Inc. (NASDAQ:FUFU) dropped 3.1% during trading on Wednesday . The stock traded as low as $4.38 and last traded at $4.39. Approximately 8,100 shares were traded during trading, a decline of 95% from the average daily volume of 160,830 shares. The stock had previously closed at $4.53.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of BitFuFu in a research note on Wednesday, March 26th.

BitFuFu Stock Down 2.6 %

The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $719.30 million, a PE ratio of 12.60 and a beta of 0.24. The company’s 50 day moving average price is $4.87 and its two-hundred day moving average price is $4.92.

BitFuFu (NASDAQ:FUFU) last released its earnings results on Tuesday, March 25th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.17. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. The company had revenue of $99.29 million for the quarter, compared to the consensus estimate of $99.29 million. On average, equities research analysts expect that BitFuFu Inc. will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On BitFuFu

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FUFU. Prospect Financial Group LLC bought a new position in shares of BitFuFu in the fourth quarter worth approximately $50,000. OLD Mission Capital LLC bought a new position in BitFuFu in the 4th quarter worth $67,000. Jane Street Group LLC increased its stake in BitFuFu by 14.0% in 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 in the last quarter. WINTON GROUP Ltd bought a new stake in BitFuFu during the fourth quarter valued at about $83,000. Finally, XTX Topco Ltd bought a new stake in BitFuFu during the third quarter valued at about $107,000. 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.