HC Wainwright Reaffirms “Buy” Rating for BitFuFu (NASDAQ:FUFU)

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $7.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 30.84% from the stock’s current price.

BitFuFu Stock Up 10.8 %

FUFU opened at $5.35 on Friday. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88. BitFuFu has a 52-week low of $2.32 and a 52-week high of $18.32. The firm’s fifty day simple moving average is $5.17 and its two-hundred day simple moving average is $4.88.

Hedge Funds Weigh In On BitFuFu

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new position in BitFuFu during the third quarter valued at $107,000. Wellington Management Group LLP purchased a new position in BitFuFu during the third quarter valued at $110,000. Jane Street Group LLC lifted its holdings in BitFuFu by 14.0% during the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after purchasing an additional 1,984 shares in the last quarter. OLD Mission Capital LLC purchased a new position in BitFuFu during the fourth quarter valued at $67,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of BitFuFu in the fourth quarter valued at about $83,000. 37.26% of the stock is owned by hedge funds and other institutional investors.

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.