BitFuFu (NASDAQ:FUFU) Stock Price Up 10.2% – Still a Buy?

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

Analyst Ratings Changes

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

BitFuFu Trading Up 6.6 %

The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09. The business has a 50 day moving average of $5.17 and a 200-day moving average of $4.87.

Institutional Investors Weigh In On BitFuFu

Several institutional investors and hedge funds have recently made changes to their positions in FUFU. Prospect Financial Group LLC purchased a new stake in shares of BitFuFu in the fourth quarter valued at $50,000. Jane Street Group LLC raised its stake in 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 purchasing an additional 1,984 shares during the last quarter. OLD Mission Capital LLC purchased a new position in BitFuFu in the 4th quarter valued at about $67,000. WINTON GROUP Ltd acquired a new stake in shares of BitFuFu during the 4th quarter worth about $83,000. Finally, XTX Topco Ltd purchased a new stake in shares of BitFuFu during the third quarter worth about $107,000. 37.26% of the stock is currently 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.