BitFuFu (NASDAQ:FUFU) Shares Down 4.2% – Here’s What Happened

BitFuFu Inc. (NASDAQ:FUFU)’s share price fell 4.2% on Friday . The company traded as low as $5.35 and last traded at $5.42. 7,848 shares changed hands during trading, a decline of 96% from the average session volume of 195,939 shares. The stock had previously closed at $5.66.

Analyst Ratings Changes

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

BitFuFu Price Performance

The stock’s 50 day moving average price is $4.97 and its 200 day moving average price is $4.59. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88.

Hedge Funds Weigh In On BitFuFu

A number of hedge funds have recently made changes to their positions in FUFU. 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 worth $65,000 after buying an additional 1,984 shares during the period. XTX Topco Ltd acquired a new stake in BitFuFu during the third quarter worth about $107,000. Finally, Wellington Management Group LLP purchased a new position in shares of BitFuFu in the 3rd quarter worth about $110,000. 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.