Exchange Traded Concepts LLC Lowers Holdings in BitFuFu Inc. (NASDAQ:FUFU)

Exchange Traded Concepts LLC reduced its stake in BitFuFu Inc. (NASDAQ:FUFU) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 504,524 shares of the company’s stock after selling 23,855 shares during the period. Exchange Traded Concepts LLC’s holdings in BitFuFu were worth $2,497,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP bought a new position in BitFuFu in the 3rd quarter worth about $110,000. XTX Topco Ltd purchased a new position in BitFuFu in the third quarter worth about $107,000. Finally, Jane Street Group LLC lifted 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 worth $65,000 after buying an additional 1,984 shares in the last quarter. 37.26% of the stock is currently owned by institutional investors.

BitFuFu Stock Up 1.9 %

Shares of NASDAQ:FUFU opened at $5.38 on Friday. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88. BitFuFu Inc. has a 1 year low of $2.32 and a 1 year high of $18.32. The stock’s fifty day moving average price is $5.33 and its 200-day moving average price is $4.83.

BitFuFu (NASDAQ:FUFU) last posted its earnings results on Tuesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. BitFuFu had a net margin of 8.17% and a return on equity of 40.15%. The company had revenue of $90.34 million for the quarter. As a group, research analysts anticipate that BitFuFu Inc. will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.