BitFuFu (NASDAQ:FUFU) Sees Large Volume Increase – What’s Next?

BitFuFu Inc. (NASDAQ:FUFU) saw strong trading volume on Tuesday . 230,961 shares were traded during trading, an increase of 23% from the previous session’s volume of 187,535 shares.The stock last traded at $3.65 and had previously closed at $3.68.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of BitFuFu in a research note on Monday, May 12th.

BitFuFu Stock Down 0.8%

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 stock has a 50-day moving average of $4.09 and a 200-day moving average of $4.78. The firm has a market cap of $595.34 million, a price-to-earnings ratio of 10.45 and a beta of 0.31.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.17. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. The company had revenue of $99.29 million for the quarter, compared to the consensus estimate of $99.29 million. As a group, sell-side analysts forecast that BitFuFu Inc. will post 0.17 EPS for the current fiscal year.

Institutional Trading of BitFuFu

A number of hedge funds and other institutional investors have recently modified their holdings of FUFU. Vident Advisory LLC bought a new stake in shares of BitFuFu in the 1st quarter worth $905,000. WINTON GROUP Ltd acquired a new position in shares of BitFuFu in the 4th quarter worth $83,000. OLD Mission Capital LLC acquired a new position in shares of BitFuFu in the 4th quarter worth $67,000. Jane Street Group LLC acquired a new position in shares of BitFuFu in the 1st quarter worth $57,000. Finally, Wedbush Securities Inc. acquired a new position in shares of BitFuFu in the 1st quarter worth $50,000. 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.