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

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

Wall Street Analysts Forecast Growth

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

BitFuFu Price Performance

The stock’s 50-day moving average price is $4.97 and its 200-day moving average price is $4.59. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC grew its stake in BitFuFu by 14.0% in the 3rd quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after acquiring an additional 1,984 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of BitFuFu in the third quarter valued at approximately $110,000. Finally, XTX Topco Ltd acquired a new stake in shares of BitFuFu in the third quarter valued at approximately $107,000. Institutional investors and hedge funds 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.