BitFuFu (NASDAQ:FUFU) Shares Down 6.3% – What’s Next?

BitFuFu Inc. (NASDAQ:FUFU)’s share price was down 6.3% during trading on Tuesday . The stock traded as low as $4.98 and last traded at $5.20. Approximately 143,407 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 196,746 shares. The stock had previously closed at $5.55.

Analyst Upgrades and Downgrades

Separately, HC Wainwright started coverage on BitFuFu in a research note on Wednesday, November 6th. They issued a “buy” rating and a $7.00 target price for the company.

BitFuFu Stock Up 4.5 %

The company has a 50 day moving average of $4.47 and a 200 day moving average of $4.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 3.40.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.01 EPS for the quarter. The company had revenue of $129.42 million during the quarter. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. Research analysts predict that BitFuFu Inc. will post 0.09 EPS for the current year.

Institutional Investors Weigh In On BitFuFu

A hedge fund recently bought a new stake in BitFuFu stock. MMCAP International Inc. SPC bought a new stake in BitFuFu Inc. (NASDAQ:FUFU) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,500 shares of the company’s stock, valued at approximately $82,000. MMCAP International Inc. SPC owned approximately 0.38% of BitFuFu as of its most recent filing with the Securities & Exchange Commission. 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.