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

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

Analyst Ratings Changes

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

BitFuFu Stock Up 10.9 %

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

Institutional Investors Weigh In On BitFuFu

Large investors have recently bought and sold shares of the business. Jane Street Group LLC grew its stake 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 purchasing an additional 1,984 shares during the period. XTX Topco Ltd bought a new stake in shares of BitFuFu during the 3rd quarter valued at about $107,000. Finally, Wellington Management Group LLP bought a new stake in shares of BitFuFu during the 3rd quarter valued at about $110,000. 37.26% of the stock is currently owned by institutional investors.

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.