BitFuFu (NASDAQ:FUFU) Stock Price Up 5.8% – Time to Buy?

BitFuFu Inc. (NASDAQ:FUFU)’s stock price shot up 5.8% during mid-day trading on Tuesday . The company traded as high as $5.32 and last traded at $5.25. 38,494 shares changed hands during trading, a decline of 80% from the average session volume of 196,580 shares. The stock had previously closed at $4.96.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated 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 company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09. The business’s 50-day moving average is $5.13 and its 200 day moving average is $4.69.

Institutional Investors Weigh In On BitFuFu

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new stake in shares of BitFuFu during the 3rd quarter valued at $110,000. XTX Topco Ltd acquired a new position in BitFuFu in the third quarter valued at about $107,000. Finally, Jane Street Group LLC lifted 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 purchasing an additional 1,984 shares during the period. Institutional investors and hedge funds own 37.26% of the company’s stock.

About BitFuFu

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.