BitFuFu (NASDAQ:FUFU) Earns “Buy” Rating from HC Wainwright

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating reissued by HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $7.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 27.97% from the company’s previous close.

BitFuFu Stock Performance

BitFuFu stock opened at $5.47 on Monday. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88. The stock’s fifty day simple moving average is $4.91 and its 200-day simple moving average is $4.58. BitFuFu has a twelve month low of $2.32 and a twelve month high of $18.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FUFU. 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 worth $65,000 after acquiring an additional 1,984 shares in the last quarter. XTX Topco Ltd acquired a new position in BitFuFu during the third quarter worth approximately $107,000. Finally, Wellington Management Group LLP purchased a new stake in BitFuFu in the third quarter valued at approximately $110,000. Institutional investors and hedge funds own 37.26% of the company’s stock.

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.