BitFuFu (NASDAQ:FUFU) Shares Gap Up – Still a Buy?

Shares of BitFuFu Inc. (NASDAQ:FUFU) gapped up prior to trading on Monday . The stock had previously closed at $4.84, but opened at $5.02. BitFuFu shares last traded at $4.93, with a volume of 39,060 shares traded.

Wall Street Analyst Weigh In

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

BitFuFu Stock Up 2.7 %

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 simple moving average is $5.12 and its 200 day simple moving average is $4.68.

Institutional Investors Weigh In On BitFuFu

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC increased its holdings 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. XTX Topco Ltd bought a new position in shares of BitFuFu in the third quarter worth $107,000. Finally, Wellington Management Group LLP purchased a new stake in shares of BitFuFu in the third quarter worth $110,000. Institutional investors own 37.26% of the company’s stock.

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.