BitFuFu (NASDAQ:FUFU) Shares Up 8.1% – What’s Next?

BitFuFu Inc. (NASDAQ:FUFU)’s stock price traded up 8.1% during trading on Thursday . The company traded as high as $5.35 and last traded at $5.35. 79,635 shares changed hands during trading, a decline of 59% from the average session volume of 195,732 shares. The stock had previously closed at $4.95.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of BitFuFu in a report on Monday, December 9th.

BitFuFu Price Performance

The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average of $5.21 and a two-hundred day moving average of $4.76.

Institutional Trading of BitFuFu

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new position in shares of BitFuFu during the 3rd quarter worth approximately $110,000. XTX Topco Ltd acquired a new stake in shares of BitFuFu during the 3rd quarter worth approximately $107,000. Finally, Jane Street Group LLC raised its position 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 buying an additional 1,984 shares during the period. 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.