BitFuFu (NASDAQ:FUFU) Shares Down 7.6% – What’s Next?

BitFuFu Inc. (NASDAQ:FUFU) was down 7.6% during trading on Thursday . The stock traded as low as $4.01 and last traded at $4.14. Approximately 222,777 shares were traded during mid-day trading, an increase of 43% from the average daily volume of 155,385 shares. The stock had previously closed at $4.48.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of BitFuFu in a research report on Friday, February 21st.

BitFuFu Trading Down 5.6 %

The firm has a 50-day moving average price of $5.07 and a two-hundred day moving average price of $4.90. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09.

Hedge Funds Weigh In On BitFuFu

A number of institutional investors have recently modified their holdings of FUFU. OLD Mission Capital LLC acquired a new stake in shares of BitFuFu during the fourth quarter worth about $67,000. WINTON GROUP Ltd purchased a new stake in BitFuFu during the 4th quarter valued at approximately $83,000. Prospect Financial Group LLC acquired a new stake in BitFuFu during the 4th quarter worth approximately $50,000. XTX Topco Ltd purchased a new position in shares of BitFuFu in the 3rd quarter valued at approximately $107,000. Finally, Jane Street Group LLC increased its holdings in shares of 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. 37.26% of the stock is owned by institutional investors and hedge funds.

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.