BitFuFu (NASDAQ:FUFU) Trading Down 4.8% – Time to Sell?

BitFuFu Inc. (NASDAQ:FUFU) shares traded down 4.8% during mid-day trading on Wednesday . The company traded as low as $3.52 and last traded at $3.49. 109,715 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 190,266 shares. The stock had previously closed at $3.66.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of BitFuFu in a report on Monday, May 12th.

BitFuFu Trading Down 2.0%

The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $4.04 and a two-hundred day simple moving average of $4.74. The firm has a market cap of $557.83 million, a PE ratio of 10.04 and a beta of 0.31.

BitFuFu (NASDAQ:FUFU) last announced its earnings results on Tuesday, March 25th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.17. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. The firm had revenue of $99.29 million during the quarter, compared to analyst estimates of $99.29 million. Equities analysts forecast that BitFuFu Inc. will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prospect Financial Group LLC bought a new position in BitFuFu during the 4th quarter valued at approximately $50,000. Wedbush Securities Inc. bought a new position in BitFuFu during the 1st quarter valued at approximately $50,000. Jane Street Group LLC purchased a new stake in BitFuFu during the 1st quarter valued at $57,000. OLD Mission Capital LLC purchased a new stake in BitFuFu during the 4th quarter valued at $67,000. Finally, WINTON GROUP Ltd purchased a new stake in BitFuFu during the 4th quarter valued at $83,000. 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.