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

BitFuFu Inc. (NASDAQ:FUFU) shares gapped down prior to trading on Friday . The stock had previously closed at $5.60, but opened at $5.46. BitFuFu shares last traded at $5.54, with a volume of 25,982 shares traded.

Wall Street Analyst Weigh In

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

BitFuFu Stock Performance

The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average of $5.22 and a two-hundred day moving average of $4.77.

Institutional Investors Weigh In On BitFuFu

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in BitFuFu during the 3rd quarter valued at about $107,000. Wellington Management Group LLP purchased a new position in shares of BitFuFu during the third quarter valued at approximately $110,000. Finally, Jane Street Group LLC grew its stake 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 valued at $65,000 after buying an additional 1,984 shares during the last quarter. Institutional investors 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.