BitFuFu (NASDAQ:FUFU) Trading 5.8% Higher – Should You Buy?

BitFuFu Inc. (NASDAQ:FUFU) traded up 5.8% on Tuesday . The company traded as high as $5.32 and last traded at $5.25. 38,494 shares traded hands during trading, a decline of 80% from the average session volume of 196,580 shares. The stock had previously closed at $4.96.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of BitFuFu in a report on Monday, December 9th.

BitFuFu Stock Performance

The business has a 50 day simple moving average of $5.16 and a 200 day simple moving average of $4.71. 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

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP purchased a new position in BitFuFu in the 3rd quarter valued at approximately $110,000. Jane Street Group LLC boosted 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. Finally, XTX Topco Ltd purchased a new position in BitFuFu in the third quarter valued at approximately $107,000. 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.