BitFuFu (NASDAQ:FUFU) Shares Up 5.8% – What’s Next?

BitFuFu Inc. (NASDAQ:FUFU)’s stock price rose 5.8% during mid-day trading on Tuesday . The company traded as high as $5.32 and last traded at $5.25. Approximately 38,494 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 196,580 shares. The stock had previously closed at $4.96.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of BitFuFu in a research note on Monday, December 9th.

BitFuFu Trading Up 6.0 %

The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09. The firm has a 50 day moving average of $5.13 and a two-hundred day moving average of $4.69.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new position in BitFuFu in the 3rd quarter worth about $107,000. Wellington Management Group LLP bought a new stake in shares of BitFuFu during the third quarter worth about $110,000. Finally, Jane Street Group LLC increased its stake in shares of BitFuFu by 14.0% in 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. 37.26% of the stock is currently owned by institutional investors and hedge funds.

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.