BitFuFu (NASDAQ:FUFU) Earns “Buy” Rating from HC Wainwright

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $7.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 16.86% from the company’s previous close.

BitFuFu Price Performance

NASDAQ:FUFU opened at $5.99 on Monday. BitFuFu has a twelve month low of $2.32 and a twelve month high of $18.32. 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 firm has a 50-day moving average price of $4.85 and a two-hundred day moving average price of $4.55.

Institutional Trading of BitFuFu

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC lifted its stake in shares of BitFuFu by 14.0% during the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after buying an additional 1,984 shares during the period. Wellington Management Group LLP acquired a new position in BitFuFu in the third quarter valued at $110,000. Finally, XTX Topco Ltd purchased a new stake in shares of BitFuFu during the 3rd quarter worth about $107,000. 37.26% of the stock is currently 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.