BitFuFu (NASDAQ:FUFU) Shares Down 4.4% – Time to Sell?

Posted by Chris Copeland on Nov 21st, 2024

Shares of BitFuFu Inc. (NASDAQ:FUFU – Get Free Report) traded down 4.4% during mid-day trading on Tuesday . The company traded as low as $5.30 and last traded at $5.47. 16,509 shares changed hands during trading, a decline of 92% from the average session volume of 199,039 shares. The stock had previously closed at $5.72.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright initiated coverage on shares of BitFuFu in a research note on Wednesday, November 6th. They issued a “buy” rating and a $7.00 target price for the company.

View Our Latest Stock Analysis on FUFU

BitFuFu Price Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09. The company’s 50 day moving average is $4.62 and its two-hundred day moving average is $4.36.

BitFuFu (NASDAQ:FUFU – Get Free Report) last released its earnings results on Tuesday, August 20th. The company reported $0.01 earnings per share for the quarter. BitFuFu had a net margin of 8.17% and a return on equity of 40.15%. The business had revenue of $129.42 million during the quarter. As a group, sell-side analysts anticipate that BitFuFu Inc. will post 0.17 earnings per share for the current year.

Institutional Investors Weigh In On BitFuFu

Several hedge funds have recently made changes to their positions in FUFU. Jane Street Group LLC lifted its stake 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 during the period. XTX Topco Ltd bought a new position in BitFuFu during the third quarter worth about $107,000. Finally, Wellington Management Group LLP bought a new position in BitFuFu during the third quarter worth about $110,000. Institutional investors own 37.26% of the company’s stock.

BitFuFu Company Profile

(Get Free Report)

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.