BitFuFu (NASDAQ:FUFU) Trading Up 5.5% – What’s Next?

BitFuFu Inc. (NASDAQ:FUFU)’s share price traded up 5.5% during trading on Friday . The company traded as high as $5.53 and last traded at $5.53. 35,140 shares traded hands during trading, a decline of 82% from the average session volume of 196,678 shares. The stock had previously closed at $5.24.

Analysts Set New Price Targets

Separately, HC Wainwright started 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 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 stock’s fifty day moving average is $4.71 and its two-hundred day moving average is $4.46.

Institutional Inflows and Outflows

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