MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Stake in BitFuFu Inc. (NASDAQ:FUFU)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in BitFuFu Inc. (NASDAQ:FUFU) by 20.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,980 shares of the company’s stock after selling 14,098 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in BitFuFu were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. OLD Mission Capital LLC purchased a new position in shares of BitFuFu in the 4th quarter worth $67,000. WINTON GROUP Ltd purchased a new position in shares of BitFuFu in the 4th quarter worth $83,000. Finally, Prospect Financial Group LLC purchased a new position in shares of BitFuFu in the 4th quarter worth $50,000. 37.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of BitFuFu in a research note on Monday, May 12th.

BitFuFu Stock Performance

FUFU stock opened at $3.50 on Friday. BitFuFu Inc. has a 1 year low of $3.00 and a 1 year high of $7.39. The stock’s fifty day moving average price is $4.00 and its 200-day moving average price is $4.72. The company has a market cap of $570.87 million, a P/E ratio of 10.00 and a beta of 0.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09.

BitFuFu (NASDAQ:FUFU) last announced its earnings results on Tuesday, March 25th. The company reported $0.14 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 company had revenue of $99.29 million for the quarter, compared to analysts’ expectations of $99.29 million. On average, equities analysts forecast that BitFuFu Inc. will post 0.17 earnings per share for the current year.

BitFuFu 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.