BitFuFu (NASDAQ:FUFU) Trading Down 5.4% – Should You Sell?

BitFuFu Inc. (NASDAQ:FUFU)’s stock price was down 5.4% during trading on Friday . The stock traded as low as $4.06 and last traded at $3.97. Approximately 2,164 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 165,380 shares. The stock had previously closed at $4.20.

Analysts Set New Price Targets

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

BitFuFu Trading Down 7.1 %

The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09. The firm has a market cap of $636.12 million, a price-to-earnings ratio of 11.14 and a beta of 0.28. The business has a fifty day simple moving average of $4.55 and a 200-day simple moving average of $4.92.

BitFuFu (NASDAQ:FUFU) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.17. The company had revenue of $99.29 million for 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%. As a group, equities analysts forecast that BitFuFu Inc. will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BitFuFu

Large investors have recently modified their holdings of the business. Jane Street Group LLC increased its holdings in 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 purchasing an additional 1,984 shares during the period. Prospect Financial Group LLC bought a new stake in shares of BitFuFu in the 4th quarter valued at about $50,000. OLD Mission Capital LLC acquired a new stake in shares of BitFuFu in the fourth quarter valued at about $67,000. Finally, WINTON GROUP Ltd bought a new position in shares of BitFuFu during the fourth quarter worth about $83,000. Institutional investors 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.