BitFuFu (NASDAQ:FUFU) Shares Gap Down – Here’s What Happened

BitFuFu Inc. (NASDAQ:FUFU) shares gapped down prior to trading on Wednesday . The stock had previously closed at $5.50, but opened at $5.24. BitFuFu shares last traded at $5.63, with a volume of 56,577 shares changing hands.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of BitFuFu in a report on Wednesday.

BitFuFu Trading Down 10.7 %

The stock has a fifty day moving average of $4.91 and a two-hundred day moving average of $4.92. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88.

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

Institutional Investors Weigh In On BitFuFu

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC grew its holdings in BitFuFu by 14.0% in the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after purchasing an additional 1,984 shares during the last quarter. Prospect Financial Group LLC purchased a new stake in shares of BitFuFu during the fourth quarter worth about $50,000. OLD Mission Capital LLC acquired a new position in shares of BitFuFu in the fourth quarter valued at approximately $67,000. WINTON GROUP Ltd acquired a new stake in BitFuFu during the fourth quarter worth approximately $83,000. Finally, XTX Topco Ltd purchased a new stake in BitFuFu in the 3rd quarter worth 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.