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

BitFuFu Inc. (NASDAQ:FUFU) shares gapped up before the market opened 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 changing hands.

Analysts Set New Price Targets

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

BitFuFu Price Performance

The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88. The company’s 50-day simple moving average is $4.62 and its two-hundred day simple moving average is $4.40.

Institutional Investors Weigh In On BitFuFu

Several institutional investors have recently added to or reduced their stakes in FUFU. Jane Street Group LLC raised its holdings in 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 purchasing an additional 1,984 shares in the last quarter. XTX Topco Ltd bought a new position in BitFuFu in the 3rd quarter worth $107,000. Finally, Wellington Management Group LLP bought a new position in BitFuFu in the 3rd quarter worth $110,000. Hedge funds and other 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.