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

BitFuFu Inc. (NASDAQ:FUFU) gapped down prior to trading on Wednesday . The stock had previously closed at $5.50, but opened at $5.24. BitFuFu shares last traded at $5.63, with a volume of 56,577 shares changing hands.

Analysts Set New Price Targets

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

BitFuFu Stock Performance

The stock has a 50 day moving average price of $4.91 and a 200 day moving average price of $4.91. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88.

BitFuFu (NASDAQ:FUFU) last issued its earnings results on Tuesday, March 25th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.17. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. The business had revenue of $99.29 million for the quarter, compared to analysts’ expectations of $99.29 million. On average, research analysts forecast that BitFuFu Inc. will post 0.17 EPS for the current year.

Institutional Trading of BitFuFu

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP bought a new position in shares of BitFuFu in the 3rd quarter valued at approximately $110,000. XTX Topco Ltd acquired a new position in BitFuFu in the 3rd quarter valued at approximately $107,000. WINTON GROUP Ltd bought a new stake in shares of BitFuFu during the fourth quarter valued at approximately $83,000. OLD Mission Capital LLC bought a new stake in BitFuFu in the 4th quarter valued at $67,000. Finally, Prospect Financial Group LLC acquired a new stake in shares of BitFuFu during the 4th quarter valued at about $50,000. 37.26% of the stock is currently owned by institutional investors and hedge funds.

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.