BitFuFu (NASDAQ:FUFU) Stock Price Down 5% – Here’s Why

Shares of BitFuFu Inc. (NASDAQ:FUFU) were down 5% during mid-day trading on Friday . The company traded as low as $3.80 and last traded at $3.98. Approximately 64,137 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 216,535 shares. The stock had previously closed at $4.19.

BitFuFu Trading Down 3.1 %

The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average price of $4.38 and a 200-day moving average price of $4.14.

BitFuFu (NASDAQ:FUFU) last released its earnings results on Tuesday, August 20th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $129.42 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BitFuFu stock. MMCAP International Inc. SPC bought a new stake in BitFuFu Inc. (NASDAQ:FUFU) in the first quarter, according to its most recent Form 13F 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. 37.26% of the stock is currently owned by institutional investors and hedge funds.

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.