BitFuFu (NASDAQ:FUFU) Trading Down 4.2% – Should You Sell?

BitFuFu Inc. (NASDAQ:FUFU) dropped 4.2% during trading on Friday . The company traded as low as $5.35 and last traded at $5.42. Approximately 7,848 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 195,939 shares. The stock had previously closed at $5.66.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of BitFuFu in a research note on Monday, December 9th.

BitFuFu Stock Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09. The firm’s 50-day simple moving average is $4.99 and its 200 day simple moving average is $4.61.

Institutional Investors Weigh In On BitFuFu

A number of hedge funds and other institutional investors have recently bought and sold shares of FUFU. Wellington Management Group LLP bought a new position in shares of BitFuFu in the third quarter worth $110,000. Jane Street Group LLC lifted its holdings in BitFuFu by 14.0% during the 3rd quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock worth $65,000 after purchasing an additional 1,984 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in BitFuFu in the 3rd quarter worth about $107,000. Institutional investors 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.