BitFuFu (NASDAQ:FUFU) Trading 4.6% Higher – Still a Buy?

BitFuFu Inc. (NASDAQ:FUFU)’s share price traded up 4.6% during trading on Thursday . The company traded as high as $5.67 and last traded at $5.65. 18,234 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 195,690 shares. The stock had previously closed at $5.40.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of BitFuFu in a research note on Monday, December 9th.

BitFuFu Stock Performance

The firm’s 50 day moving average price is $4.99 and its 200-day moving average price is $4.61. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09.

Institutional Trading of BitFuFu

A number of hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC increased its holdings in shares of BitFuFu by 14.0% during the 3rd quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock worth $65,000 after purchasing an additional 1,984 shares during the period. XTX Topco Ltd acquired a new stake in BitFuFu during the third quarter worth about $107,000. Finally, Wellington Management Group LLP bought a new stake in shares of BitFuFu in the 3rd quarter worth approximately $110,000. 37.26% of the stock is owned by 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.