BitFuFu (NASDAQ:FUFU) Shares Gap Up – Still a Buy?

BitFuFu Inc. (NASDAQ:FUFU)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $4.68, but opened at $5.10. BitFuFu shares last traded at $5.11, with a volume of 105,575 shares trading hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright assumed coverage on BitFuFu in a report on Wednesday, November 6th. They set a “buy” rating and a $7.00 target price on the stock.

BitFuFu Stock Up 4.5 %

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 stock has a 50-day moving average of $4.50 and a 200-day moving average of $4.26.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.01 EPS for the quarter. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. The company had revenue of $129.42 million for the quarter. Equities analysts expect that BitFuFu Inc. will post 0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On BitFuFu

A hedge fund recently bought a new stake in BitFuFu stock. MMCAP International Inc. SPC purchased a new stake in shares of BitFuFu Inc. (NASDAQ:FUFU) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,500 shares of the company’s stock, valued at approximately $82,000. MMCAP International Inc. SPC owned approximately 0.38% of BitFuFu at the end of the most recent quarter. 37.26% of the stock is currently owned by hedge funds and other 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.