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

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $7.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 27.97% from the company’s previous close.

BitFuFu Price Performance

BitFuFu stock opened at $5.47 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09. The firm has a 50 day moving average price of $4.91 and a 200 day moving average price of $4.58. BitFuFu has a 1 year low of $2.32 and a 1 year high of $18.32.

Institutional Investors Weigh In On BitFuFu

Several institutional investors and hedge funds have recently modified their holdings of FUFU. Jane Street Group LLC boosted its stake in shares of BitFuFu by 14.0% in 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 during the period. XTX Topco Ltd bought a new stake 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 during the third quarter worth about $110,000. Hedge funds and other 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.