BitFuFu (NASDAQ:FUFU) Stock Price Down 4.9% – Time to Sell?

BitFuFu Inc. (NASDAQ:FUFU) shares traded down 4.9% on Tuesday . The stock traded as low as $5.58 and last traded at $5.67. 41,297 shares were traded during mid-day trading, a decline of 77% from the average session volume of 176,089 shares. The stock had previously closed at $5.96.

Analyst Upgrades and Downgrades

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

BitFuFu Stock Up 0.6 %

The company has a 50-day simple moving average of $5.27 and a 200-day simple moving average of $4.81. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09.

Hedge Funds Weigh In On BitFuFu

Large investors have recently bought and sold shares of the business. Jane Street Group LLC increased its stake in BitFuFu by 14.0% in 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 period. XTX Topco Ltd purchased a new position in BitFuFu in the 3rd quarter worth about $107,000. Finally, Wellington Management Group LLP bought a new stake in BitFuFu during the 3rd quarter valued at about $110,000. Hedge funds and other 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.