BitFuFu (NASDAQ:FUFU) Shares Gap Up – Time to Buy?

BitFuFu Inc. (NASDAQ:FUFU) gapped up prior to trading on Monday . The stock had previously closed at $5.01, but opened at $5.40. BitFuFu shares last traded at $5.36, with a volume of 4,953 shares traded.

Wall Street Analyst Weigh In

Separately, HC Wainwright initiated coverage on shares of BitFuFu in a report on Wednesday, November 6th. They issued a “buy” rating and a $7.00 price objective for the company.

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 50 day moving average is $4.62 and its 200-day moving average is $4.40.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Jane Street Group LLC increased its stake in shares of BitFuFu by 14.0% in 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. XTX Topco Ltd bought a new position in shares of BitFuFu in the 3rd quarter worth about $107,000. Finally, Wellington Management Group LLP bought a new position in shares of BitFuFu in the 3rd quarter worth about $110,000. 37.26% of the stock is currently owned by 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.