BitFuFu (NASDAQ:FUFU) Trading Up 4.6% – Should You Buy?

Shares of BitFuFu Inc. (NASDAQ:FUFU) were up 4.6% on Thursday . The company traded as high as $5.67 and last traded at $5.65. Approximately 18,234 shares were traded during trading, a decline of 91% from the average daily volume of 195,690 shares. The stock had previously closed at $5.40.

Wall Street Analyst Weigh In

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

BitFuFu Stock Performance

The stock has a fifty day moving average of $4.94 and a 200 day moving average of $4.59. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its holdings in BitFuFu by 14.0% in 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 in the last quarter. XTX Topco Ltd purchased a new position in BitFuFu in the 3rd quarter worth approximately $107,000. Finally, Wellington Management Group LLP purchased a new position in BitFuFu in the 3rd quarter worth approximately $110,000. 37.26% of the stock is owned by hedge funds and other institutional investors.

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.