BitFuFu (NASDAQ:FUFU) Shares Up 10.2% – Still a Buy?

Shares of BitFuFu Inc. (NASDAQ:FUFU) shot up 10.2% during trading on Friday . The stock traded as high as $5.28 and last traded at $5.32. 119,150 shares were traded during trading, a decline of 22% from the average session volume of 153,225 shares. The stock had previously closed at $4.83.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of BitFuFu in a research report on Friday.

BitFuFu Trading Up 10.8 %

The business’s fifty day moving average price is $5.17 and its 200-day moving average price is $4.88. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09.

Institutional Trading of BitFuFu

A number of institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new stake in shares of BitFuFu during the 3rd quarter valued at about $110,000. XTX Topco Ltd purchased a new stake in shares of BitFuFu during the 3rd quarter valued at about $107,000. WINTON GROUP Ltd purchased a new stake in shares of BitFuFu during the 4th quarter valued at about $83,000. Jane Street Group LLC boosted 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 valued at $65,000 after acquiring an additional 1,984 shares during the last quarter. Finally, OLD Mission Capital LLC purchased a new stake in shares of BitFuFu during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors 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.