BitFuFu (NASDAQ:FUFU) Trading 8.1% Higher – Here’s What Happened

BitFuFu Inc. (NASDAQ:FUFU)’s share price was up 8.1% during mid-day trading on Thursday . The stock traded as high as $5.35 and last traded at $5.35. Approximately 79,635 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 195,732 shares. The stock had previously closed at $4.95.

Wall Street Analyst Weigh In

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

BitFuFu Stock Performance

The stock has a 50 day moving average of $5.24 and a two-hundred day moving average of $4.78. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in BitFuFu during the third quarter valued at $110,000. Jane Street Group LLC boosted its position 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 acquiring an additional 1,984 shares during the period. Finally, XTX Topco Ltd purchased a new position in BitFuFu during the 3rd quarter valued at about $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.