BitFuFu (NASDAQ:FUFU) Shares Gap Up – Here’s Why

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

Wall Street Analysts Forecast Growth

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

BitFuFu Stock Performance

The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88. The business’s 50 day moving average price is $5.12 and its two-hundred day moving average price is $4.68.

Institutional Trading of BitFuFu

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC boosted its holdings in shares of BitFuFu by 14.0% during the 3rd quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after acquiring an additional 1,984 shares in the last quarter. XTX Topco Ltd bought a new position in BitFuFu in the third quarter valued at about $107,000. Finally, Wellington Management Group LLP acquired a new stake in shares of BitFuFu during the third quarter valued at about $110,000. Institutional investors own 37.26% of the company’s stock.

BitFuFu Company Profile

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.