BitFuFu (NASDAQ:FUFU) Trading Up 10.2% – Should You Buy?

BitFuFu Inc. (NASDAQ:FUFU) traded up 10.2% on Friday . The company traded as high as $5.28 and last traded at $5.32. 119,150 shares were traded during trading, a decline of 22% from the average session volume of 153,225 shares. The stock had previously closed at $4.83.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of BitFuFu in a research report on Friday.

BitFuFu Price Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09. The company’s fifty day moving average is $5.17 and its two-hundred day moving average is $4.87.

Hedge Funds Weigh In On BitFuFu

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in BitFuFu during the third quarter worth about $107,000. Wellington Management Group LLP acquired a new position in shares of BitFuFu in the third quarter valued at approximately $110,000. Jane Street Group LLC increased its stake 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. OLD Mission Capital LLC acquired a new stake in BitFuFu during the 4th quarter worth approximately $67,000. Finally, WINTON GROUP Ltd purchased a new position in BitFuFu in the 4th quarter valued at approximately $83,000. 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.