BitFuFu (NASDAQ:FUFU) Sees Large Volume Increase – Still a Buy?

BitFuFu Inc. (NASDAQ:FUFU) shares saw unusually-high trading volume on Wednesday . Approximately 285,638 shares traded hands during mid-day trading, an increase of 44% from the previous session’s volume of 198,445 shares.The stock last traded at $5.91 and had previously closed at $5.80.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright started coverage on shares of BitFuFu in a report on Wednesday, November 6th. They set a “buy” rating and a $7.00 price target for the company.

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 company has a 50 day moving average price of $4.54 and a 200-day moving average price of $4.27.

BitFuFu (NASDAQ:FUFU) last issued its earnings results on Tuesday, August 20th. The company reported $0.01 EPS for the quarter. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. The firm had revenue of $129.42 million during the quarter. Equities research analysts expect that BitFuFu Inc. will post 0.09 earnings per share for the current year.

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.