Shares of BitFuFu Inc. (NASDAQ:FUFU – Get Free Report) traded up 4.9% during trading on Thursday . The stock traded as high as $5.79 and last traded at $5.60. 74,982 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 199,209 shares. The stock had previously closed at $5.34.
Analysts Set New Price Targets
Separately, HC Wainwright initiated coverage on shares of BitFuFu in a research report on Wednesday, November 6th. They issued a “buy” rating and a $7.00 target price for the company.
Check Out Our Latest Analysis on BitFuFu
BitFuFu Stock Down 1.3 %
BitFuFu (NASDAQ:FUFU – Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $129.42 million for the quarter. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. As a group, analysts forecast that BitFuFu Inc. will post 0.09 earnings per share for the current fiscal year.
Institutional Investors Weigh In On BitFuFu
A hedge fund recently bought a new stake in BitFuFu stock. MMCAP International Inc. SPC acquired a new position in shares of BitFuFu Inc. (NASDAQ:FUFU – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,500 shares of the company’s stock, valued at approximately $82,000. MMCAP International Inc. SPC owned about 0.38% of BitFuFu at the end of the most recent quarter. 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.
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