BitFuFu (NASDAQ:FUFU) Shares Gap Down – What’s Next?

BitFuFu Inc. (NASDAQ:FUFU) shares gapped down before the market opened on Friday . The stock had previously closed at $5.40, but opened at $5.29. BitFuFu shares last traded at $5.32, with a volume of 12,134 shares.

Wall Street Analysts Forecast Growth

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

BitFuFu Price Performance

The company’s 50 day moving average price is $5.19 and its 200-day moving average price is $4.72. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUFU. XTX Topco Ltd bought a new position in shares of BitFuFu during the 3rd quarter worth approximately $107,000. Jane Street Group LLC grew its holdings in shares of 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 acquiring an additional 1,984 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of BitFuFu during the third quarter valued at approximately $110,000. 37.26% of the stock is currently owned by hedge funds and other institutional investors.

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.