BitFuFu (NASDAQ:FUFU) Shares Up 4.5% – What’s Next?

BitFuFu Inc. (NASDAQ:FUFU)’s stock price shot up 4.5% during mid-day trading on Friday . The company traded as high as $4.30 and last traded at $4.37. 10,187 shares traded hands during trading, a decline of 94% from the average session volume of 161,387 shares. The stock had previously closed at $4.18.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of BitFuFu in a research report on Wednesday, March 26th.

BitFuFu Stock Down 1.1 %

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 has a 50-day moving average price of $4.83 and a 200 day moving average price of $4.91. The firm has a market capitalization of $674.45 million, a PE ratio of 11.81 and a beta of 0.28.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.17. The business had revenue of $99.29 million during the quarter, compared to the consensus estimate of $99.29 million. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. Analysts forecast that BitFuFu Inc. will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On BitFuFu

Several institutional investors have recently bought and sold shares of the stock. Prospect Financial Group LLC bought a new position in shares of BitFuFu during the 4th quarter valued at about $50,000. Jane Street Group LLC boosted its stake in BitFuFu by 14.0% during the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after buying an additional 1,984 shares during the last quarter. OLD Mission Capital LLC purchased a new position in BitFuFu during the 4th quarter valued at approximately $67,000. WINTON GROUP Ltd bought a new stake in BitFuFu in the 4th quarter worth approximately $83,000. Finally, XTX Topco Ltd purchased a new stake in shares of BitFuFu during the 3rd quarter worth approximately $107,000. 37.26% of the stock is owned by hedge funds and other institutional investors.

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.