BitFuFu (NASDAQ:FUFU) Shares Gap Down – Should You Sell?

BitFuFu Inc. (NASDAQ:FUFU) gapped down before the market opened on Friday . The stock had previously closed at $5.40, but opened at $5.29. BitFuFu shares last traded at $5.32, with a volume of 12,134 shares.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of BitFuFu in a report on Monday, December 9th.

BitFuFu Stock Down 3.9 %

The stock’s 50-day moving average price is $5.19 and its two-hundred day moving average price is $4.72. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09.

Hedge Funds Weigh In On BitFuFu

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC raised its stake in shares of BitFuFu by 14.0% in the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after buying an additional 1,984 shares during the period. XTX Topco Ltd bought a new position in shares of BitFuFu during the 3rd quarter worth $107,000. Finally, Wellington Management Group LLP purchased a new stake in BitFuFu in the 3rd quarter worth about $110,000. 37.26% of the stock is owned by institutional investors.

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.