BitFuFu (NASDAQ:FUFU) Trading Down 5% – Should You Sell?

BitFuFu Inc. (NASDAQ:FUFU)’s share price fell 5% during trading on Friday . The stock traded as low as $3.80 and last traded at $3.98. 64,137 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 216,535 shares. The stock had previously closed at $4.19.

BitFuFu Price Performance

The company has a debt-to-equity ratio of 0.87, a current ratio of 3.41 and a quick ratio of 3.40. The stock’s fifty day simple moving average is $4.39 and its two-hundred day simple moving average is $4.14.

BitFuFu (NASDAQ:FUFU) last issued its earnings results on Tuesday, August 20th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $129.42 million for the quarter.

Institutional Trading of BitFuFu

A hedge fund recently bought a new stake in BitFuFu stock. MMCAP International Inc. SPC purchased a new stake in BitFuFu Inc. (NASDAQ:FUFU) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,500 shares of the company’s stock, valued at approximately $82,000. MMCAP International Inc. SPC owned approximately 0.38% of BitFuFu as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.