BitFuFu (NASDAQ:FUFU) Shares Gap Down – What’s Next?

Shares of BitFuFu Inc. (NASDAQ:FUFU) gapped down before the market opened on Wednesday . The stock had previously closed at $5.50, but opened at $5.24. BitFuFu shares last traded at $5.63, with a volume of 56,577 shares changing hands.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of BitFuFu in a research report on Wednesday.

BitFuFu Stock Performance

The stock has a 50 day simple moving average of $4.91 and a 200 day simple moving average of $4.92. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09.

BitFuFu (NASDAQ:FUFU) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.14 EPS for the quarter, topping 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 firm had revenue of $99.29 million for the quarter, compared to analyst estimates of $99.29 million. As a group, equities research analysts predict that BitFuFu Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Trading of BitFuFu

Large investors have recently modified their holdings of the business. OLD Mission Capital LLC bought a new position in BitFuFu during the 4th quarter valued at $67,000. WINTON GROUP Ltd acquired a new position in shares of BitFuFu during the fourth quarter valued at $83,000. Prospect Financial Group LLC acquired a new stake in shares of BitFuFu in the fourth quarter valued at approximately $50,000. XTX Topco Ltd acquired a new position in shares of BitFuFu during the third quarter valued at $107,000. Finally, Jane Street Group LLC raised its holdings in BitFuFu by 14.0% during the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock worth $65,000 after purchasing an additional 1,984 shares in the last quarter. 37.26% of the stock is currently owned by institutional investors and hedge funds.

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.