BitFuFu (NASDAQ:FUFU) Sees Large Volume Increase - Here's Why

BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) saw strong trading volume on Monday . 163,058 shares changed hands during mid-day trading, a decline of 2% from the previous session's volume of 166,565 shares.The stock last traded at $3.77 and had previously closed at $3.90.

Analyst Ratings Changes

Separately, HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of BitFuFu in a report on Wednesday, March 26th.

BitFuFu Stock Up 1.2 %

The company's 50-day moving average is $4.46 and its two-hundred day moving average is $4.91. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09. The company has a market cap of $559.62 million, a P/E ratio of 9.74 and a beta of 0.28.

BitFuFu (NASDAQ:FUFU - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.14 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $99.29 million. As a group, equities analysts predict that BitFuFu Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FUFU. Jane Street Group LLC boosted its holdings in BitFuFu by 14.0% in the 3rd quarter. Jane Street Group LLC now owns 16,153 shares of the company's stock worth $65,000 after buying an additional 1,984 shares during the period. Prospect Financial Group LLC purchased a new position in shares of BitFuFu during the fourth quarter valued at about $50,000. OLD Mission Capital LLC bought a new position in shares of BitFuFu during the 4th quarter valued at approximately $67,000. Finally, WINTON GROUP Ltd purchased a new position in shares of BitFuFu in the fourth quarter valued at $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.