BitFuFu (NASDAQ:FUFU) Stock Price Down 4.4% – Should You Sell?

Shares of BitFuFu Inc. (NASDAQ:FUFU) were down 4.4% on Thursday . The company traded as low as $5.33 and last traded at $5.27. Approximately 21,636 shares traded hands during trading, a decline of 86% from the average daily volume of 159,852 shares. The stock had previously closed at $5.51.

Analyst Ratings Changes

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

BitFuFu Price Performance

The firm’s 50 day simple moving average is $4.90 and its 200-day simple moving average is $4.92. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88.

BitFuFu (NASDAQ:FUFU) last announced its earnings results on Tuesday, March 25th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. The firm had revenue of $99.29 million during the quarter, compared to analysts’ expectations of $99.29 million. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. On average, sell-side analysts anticipate that BitFuFu Inc. will post 0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On BitFuFu

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP acquired a new stake in BitFuFu during the 3rd quarter worth $110,000. Jane Street Group LLC raised its holdings 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 last quarter. XTX Topco Ltd acquired a new stake in shares of BitFuFu during the third quarter worth about $107,000. Prospect Financial Group LLC acquired a new stake in shares of BitFuFu during the fourth quarter worth about $50,000. Finally, WINTON GROUP Ltd purchased a new position in shares of BitFuFu during the fourth quarter worth about $83,000. 37.26% of the stock is currently owned by hedge funds and other institutional investors.

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.