BitFuFu’s (FUFU) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of BitFuFu (NASDAQ:FUFU) in a research report sent to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $7.00 price objective on the stock.

BitFuFu Stock Performance

Shares of FUFU stock opened at $5.35 on Friday. The company’s fifty day simple moving average is $5.17 and its 200-day simple moving average is $4.88. BitFuFu has a 52 week low of $2.32 and a 52 week high of $18.32. 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its stake in BitFuFu by 14.0% during the 3rd quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock worth $65,000 after buying an additional 1,984 shares during the period. Prospect Financial Group LLC purchased a new stake in BitFuFu during the 4th quarter worth $50,000. OLD Mission Capital LLC purchased a new stake in BitFuFu during the 4th quarter worth $67,000. WINTON GROUP Ltd purchased a new stake in BitFuFu during the 4th quarter worth $83,000. Finally, XTX Topco Ltd purchased a new stake in BitFuFu during the 3rd quarter worth $107,000. Hedge funds and other institutional investors own 37.26% of the company’s stock.

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.