BitFuFu (NASDAQ:FUFU) Trading Down 4.9% – Here’s What Happened

BitFuFu Inc. (NASDAQ:FUFU)’s stock price fell 4.9% during trading on Tuesday . The stock traded as low as $5.58 and last traded at $5.67. 41,297 shares changed hands during trading, a decline of 77% from the average session volume of 176,089 shares. The stock had previously closed at $5.96.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of BitFuFu in a research report on Monday, December 9th.

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 business’s 50-day simple moving average is $5.26 and its two-hundred day simple moving average is $4.81.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Jane Street Group LLC lifted its stake 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 buying an additional 1,984 shares during the last quarter. XTX Topco Ltd acquired a new stake in BitFuFu in the 3rd quarter valued at approximately $107,000. Finally, Wellington Management Group LLP bought a new stake in BitFuFu during the 3rd quarter valued at $110,000. 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.