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

BitFuFu Inc. (NASDAQ:FUFU) shares rose 5.5% during trading on Friday . The company traded as high as $5.53 and last traded at $5.53. Approximately 35,140 shares changed hands during trading, a decline of 82% from the average daily 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 research note on Wednesday, November 6th. They issued a “buy” rating and a $7.00 price target on the stock.

BitFuFu Stock Performance

The firm’s 50 day moving average is $4.67 and its two-hundred day moving average is $4.44. 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 institutional investors and hedge funds have recently made changes to their positions in FUFU. Wellington Management Group LLP bought a new position in BitFuFu during the third quarter worth about $110,000. XTX Topco Ltd bought a new stake in BitFuFu during the 3rd quarter worth approximately $107,000. Finally, Jane Street Group LLC raised its holdings in 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 buying an additional 1,984 shares during the period. Institutional investors and hedge funds 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.