MMCAP International Inc. SPC Decreases Stake in BitFuFu Inc. (NASDAQ:FUFU)

MMCAP International Inc. SPC reduced its position in BitFuFu Inc. (NASDAQ:FUFU) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,497 shares of the company’s stock after selling 2,771 shares during the period. MMCAP International Inc. SPC’s holdings in BitFuFu were worth $47,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in BitFuFu in the 3rd quarter valued at about $110,000. XTX Topco Ltd bought a new position in shares of BitFuFu during the third quarter worth about $107,000. Finally, Jane Street Group LLC lifted its position 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 purchasing an additional 1,984 shares during the last quarter. 37.26% of the stock is owned by hedge funds and other institutional investors.

BitFuFu Stock Performance

Shares of FUFU stock opened at $4.88 on Wednesday. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88. BitFuFu Inc. has a one year low of $2.32 and a one year high of $18.32. The company’s 50-day simple moving average is $5.15 and its 200-day simple moving average is $4.90.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of BitFuFu in a research report on Friday, February 21st.

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.