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

BitFuFu Inc. (NASDAQ:FUFU)’s stock price gapped down before the market opened 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 trading hands.

Wall Street Analyst Weigh In

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

BitFuFu Trading Up 2.7 %

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

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.17. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. The company had revenue of $99.29 million during the quarter, compared to analyst estimates of $99.29 million. Research analysts anticipate that BitFuFu Inc. will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BitFuFu

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in BitFuFu during the 3rd quarter worth $110,000. XTX Topco Ltd purchased a new stake in BitFuFu during the third quarter worth $107,000. WINTON GROUP Ltd purchased a new stake in shares of BitFuFu in the fourth quarter valued at about $83,000. Jane Street Group LLC increased its position in BitFuFu by 14.0% during the third 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 in the last quarter. Finally, OLD Mission Capital LLC purchased a new position in BitFuFu in the 4th quarter valued at about $67,000. Institutional investors and hedge funds 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.