BitFuFu (NASDAQ:FUFU) Sees Strong Trading Volume – What’s Next?

Shares of BitFuFu Inc. (NASDAQ:FUFU) saw unusually-strong trading volume on Wednesday . Approximately 285,638 shares changed hands during trading, an increase of 44% from the previous session’s volume of 198,445 shares.The stock last traded at $5.91 and had previously closed at $5.80.

Wall Street Analyst Weigh In

Separately, HC Wainwright initiated coverage on shares of BitFuFu in a research note on Wednesday, November 6th. They set a “buy” rating and a $7.00 price target for the company.

BitFuFu Price Performance

The firm’s fifty day simple moving average is $4.54 and its 200-day simple moving average is $4.27. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $129.42 million during the quarter. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. Analysts forecast that BitFuFu Inc. will post 0.09 earnings per share for the current year.

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.