BitFuFu (NASDAQ:FUFU) Trading Down 3.1% – What’s Next?

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

Wall Street Analyst Weigh In

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

BitFuFu Stock Performance

The firm’s 50 day simple moving average is $4.87 and its 200 day simple moving average is $4.92. The firm has a market cap of $719.30 million, a PE ratio of 12.60 and a beta of 0.24. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88.

BitFuFu (NASDAQ:FUFU) last posted its earnings results on Tuesday, March 25th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates 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, research analysts forecast that BitFuFu Inc. will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP purchased a new stake in BitFuFu during the third quarter valued at $110,000. XTX Topco Ltd purchased a new stake in shares of BitFuFu during the 3rd quarter valued at about $107,000. WINTON GROUP Ltd purchased a new stake in shares of BitFuFu during the 4th quarter valued at about $83,000. OLD Mission Capital LLC bought a new position in shares of BitFuFu in the 4th quarter valued at about $67,000. Finally, Prospect Financial Group LLC purchased a new position in BitFuFu in the fourth quarter worth about $50,000. 37.26% of the stock is 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.