BitFuFu (NASDAQ:FUFU) Trading 8.1% Higher – Here’s Why

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

Analysts Set New Price Targets

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

BitFuFu Price Performance

The company has a fifty day moving average price of $5.24 and a 200-day moving average price of $4.78. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09.

Hedge Funds Weigh In On BitFuFu

Several hedge funds have recently bought and sold shares of FUFU. Wellington Management Group LLP bought a new stake in shares of BitFuFu during the 3rd quarter worth about $110,000. Jane Street Group LLC raised its stake in shares of BitFuFu by 14.0% in the 3rd quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after acquiring an additional 1,984 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in BitFuFu during the third quarter worth approximately $107,000. 37.26% of the stock is 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.