BitFuFu (NASDAQ:FUFU) Shares Down 2.4% – Here’s Why

Shares of BitFuFu Inc. (NASDAQ:FUFU) traded down 2.4% on Monday . The company traded as low as $4.81 and last traded at $4.88. 121,068 shares changed hands during trading, a decline of 17% from the average session volume of 145,667 shares. The stock had previously closed at $5.00.

Analyst Upgrades and Downgrades

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

BitFuFu Stock Down 2.4 %

The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09. The firm’s 50-day moving average price is $5.21 and its 200 day moving average price is $4.86.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FUFU. Wellington Management Group LLP bought a new stake in BitFuFu in the third quarter valued at about $110,000. XTX Topco Ltd acquired a new position in shares of BitFuFu during the 3rd quarter worth about $107,000. WINTON GROUP Ltd bought a new stake in shares of BitFuFu in the 4th quarter valued at about $83,000. Jane Street Group LLC raised its position in shares of BitFuFu by 14.0% in the 3rd 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 during the period. Finally, OLD Mission Capital LLC bought a new position in BitFuFu during the 4th quarter worth approximately $67,000. Institutional investors and hedge funds 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.