BitFuFu (NASDAQ:FUFU) Stock Price Down 6.3% – Should You Sell?

BitFuFu Inc. (NASDAQ:FUFU) shares fell 6.3% on Tuesday . The stock traded as low as $4.98 and last traded at $5.20. 143,407 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 196,746 shares. The stock had previously closed at $5.55.

Wall Street Analyst Weigh In

Separately, HC Wainwright began coverage on shares of BitFuFu in a report on Wednesday, November 6th. They set a “buy” rating and a $7.00 price target for the company.

BitFuFu Stock Down 7.9 %

The company has a 50-day simple moving average of $4.52 and a 200-day simple moving average of $4.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.01 earnings per share for the quarter. BitFuFu had a net margin of 8.17% and a return on equity of 40.15%. The firm had revenue of $129.42 million during the quarter. On average, equities research analysts forecast that BitFuFu Inc. will post 0.09 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BitFuFu stock. MMCAP International Inc. SPC bought a new position in shares of BitFuFu Inc. (NASDAQ:FUFU) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,500 shares of the company’s stock, valued at approximately $82,000. MMCAP International Inc. SPC owned about 0.38% of BitFuFu as of its most recent SEC filing. Hedge funds and other 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.