BitFuFu (NASDAQ:FUFU) Trading Down 2.8% – Here’s What Happened

Shares of BitFuFu Inc. (NASDAQ:FUFU) dropped 2.8% during trading on Wednesday . The stock traded as low as $4.30 and last traded at $4.54. Approximately 13,294 shares changed hands during trading, a decline of 94% from the average daily volume of 208,803 shares. The stock had previously closed at $4.67.

BitFuFu Stock Performance

The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.87. The firm has a fifty day simple moving average of $4.40 and a 200 day simple moving average of $4.09.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.01 EPS for the quarter. The company had revenue of $129.42 million for the quarter.

Hedge Funds Weigh In On BitFuFu

A hedge fund recently bought a new stake in BitFuFu stock. MMCAP International Inc. SPC purchased a new stake in shares of BitFuFu Inc. (NASDAQ:FUFU) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 16,500 shares of the company’s stock, valued at approximately $82,000. MMCAP International Inc. SPC owned about 0.38% of BitFuFu as of its most recent SEC filing. Institutional investors and hedge funds own 37.26% of the company’s stock.

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.