BitFuFu (NASDAQ:FUFU) Shares Gap Up – Here’s What Happened

BitFuFu Inc. (NASDAQ:FUFU) gapped up prior to trading on Tuesday . The stock had previously closed at $4.46, but opened at $4.67. BitFuFu shares last traded at $4.79, with a volume of 61,837 shares traded.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of BitFuFu in a research note on Friday, February 21st.

BitFuFu Stock Up 19.5 %

The company’s 50-day simple moving average is $4.90 and its 200 day simple moving average is $4.91. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09.

Hedge Funds Weigh In On BitFuFu

Several hedge funds have recently bought and sold shares of FUFU. Jane Street Group LLC boosted 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 worth $65,000 after acquiring an additional 1,984 shares in the last quarter. Prospect Financial Group LLC acquired a new stake in BitFuFu in the 4th quarter worth approximately $50,000. OLD Mission Capital LLC bought a new stake in BitFuFu during the fourth quarter worth approximately $67,000. WINTON GROUP Ltd acquired a new position in BitFuFu during the fourth quarter valued at approximately $83,000. Finally, XTX Topco Ltd acquired a new position in BitFuFu during the third quarter valued at approximately $107,000. 37.26% of the stock is owned by institutional investors and hedge funds.

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.