BitFuFu Receives Strong Buy Rating from HC Wainwright & Co.
On November 6, 2024, HC Wainwright & Co. launched coverage of BitFuFu (NasdaqCM:FUFU), giving it a Buy recommendation, suggesting confidence in the company’s potential.
Increasing Institutional Interest in BitFuFu
Currently, 9 funds or institutions have reported positions in BitFuFu, marking a 12.50% increase with one additional owner in the last quarter. These funds have significantly boosted their stakes, as the average portfolio weight dedicated to FUFU has surged by 18,119.51% to 0.28%. In the past three months, total shares owned by institutions skyrocketed by 2,067.35%, reaching 1,231K shares.
Among institutional owners, Bitwise Crypto Industry Innovators ETF holds 656K shares, making up 2.35% of the company’s total. Meanwhile, Exchange Traded Concepts has 528K shares, accounting for 1.89% ownership—a decrease from their previous 661K shares, representing a decline of 25.16%. This firm has also reduced its portfolio allocation in FUFU by 41.25% over the last quarter.
Additionally, MMCAP International Inc. SPC owns 16K shares, which is 0.06% of the company. Geode Capital Management and Jane Street Group each hold 14K shares, equating to 0.05% ownership, with no changes reported in the last quarter.
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This article was first published on Fintel.
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