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

BitFuFu Inc. (NASDAQ:FUFU)’s share price gapped down prior to trading on Friday . The stock had previously closed at $5.40, but opened at $5.29. BitFuFu shares last traded at $5.32, with a volume of 12,134 shares trading hands.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of BitFuFu in a report on Monday, December 9th.

BitFuFu Trading Down 1.9 %

The company has a fifty day moving average of $5.18 and a 200-day moving average of $4.71. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FUFU. XTX Topco Ltd purchased a new position in BitFuFu in the third quarter valued at $107,000. Wellington Management Group LLP purchased a new position in shares of BitFuFu in the 3rd quarter valued at about $110,000. Finally, Jane Street Group LLC increased its stake in shares of 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 buying an additional 1,984 shares during the period. Hedge funds and other institutional investors own 37.26% of the company’s stock.

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.