BitFuFu (NASDAQ:FUFU) Shares Down 7.6% – Here’s What Happened

BitFuFu Inc. (NASDAQ:FUFU) shares fell 7.6% during trading on Thursday . The company traded as low as $4.01 and last traded at $4.14. 222,777 shares changed hands during trading, an increase of 43% from the average session volume of 155,385 shares. The stock had previously closed at $4.48.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of BitFuFu in a report on Friday, February 21st.

BitFuFu Price Performance

The business has a fifty day moving average price of $5.07 and a 200 day moving average price of $4.90. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88.

Institutional Investors Weigh In On BitFuFu

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