BitFuFu (NASDAQ:FUFU) Stock Price Down 5.4% - Should You Sell?

BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) was down 5.4% during trading on Friday . The company traded as low as $4.06 and last traded at $3.97. Approximately 2,164 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 165,380 shares. The stock had previously closed at $4.20.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of BitFuFu in a research note on Wednesday, March 26th.

BitFuFu Stock Performance

The stock has a market capitalization of $603.50 million, a price-to-earnings ratio of 10.57 and a beta of 0.28. The stock's 50 day moving average is $4.53 and its 200 day moving average is $4.93. 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 - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.17. The company had revenue of $99.29 million for the quarter, compared to analyst estimates of $99.29 million. BitFuFu had a net margin of 8.17% and a return on equity of 40.15%. On average, analysts predict that BitFuFu Inc. will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prospect Financial Group LLC purchased a new position in BitFuFu in the 4th quarter valued at about $50,000. OLD Mission Capital LLC purchased a new position in BitFuFu in the 4th quarter valued at about $67,000. Jane Street Group LLC lifted its holdings in BitFuFu by 14.0% in the 3rd quarter. Jane Street Group LLC now owns 16,153 shares of the company's stock valued at $65,000 after purchasing an additional 1,984 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of BitFuFu during the 4th quarter worth about $83,000. 37.26% of the stock is currently owned by hedge funds and other institutional investors.

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.