Diamond Equity Forecasts BitFuFu FY2024 Earnings

BitFuFu Inc. (NASDAQ:FUFU) – Equities research analysts at Diamond Equity issued their FY2024 earnings per share (EPS) estimates for shares of BitFuFu in a report issued on Wednesday, November 13th. Diamond Equity analyst H. Diamond anticipates that the company will earn $0.26 per share for the year. The consensus estimate for BitFuFu’s current full-year earnings is $0.17 per share. Diamond Equity also issued estimates for BitFuFu’s Q4 2024 earnings at $0.05 EPS, Q1 2025 earnings at $0.07 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $0.39 EPS.

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

BitFuFu Stock Performance

NASDAQ FUFU opened at $5.47 on Monday. BitFuFu has a twelve month low of $2.32 and a twelve month high of $18.32. 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 business’s fifty day moving average is $4.60 and its 200 day moving average is $4.35.

BitFuFu (NASDAQ:FUFU) last posted its earnings results on Tuesday, August 20th. The company reported $0.01 EPS for the quarter. BitFuFu had a net margin of 8.17% and a return on equity of 40.15%. The firm had revenue of $129.42 million during the quarter.

Institutional Investors Weigh In On BitFuFu

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC lifted its stake in shares of BitFuFu by 14.0% in the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock worth $65,000 after acquiring an additional 1,984 shares during the period. XTX Topco Ltd bought a new position in BitFuFu during the 3rd quarter worth approximately $107,000. Finally, Wellington Management Group LLP acquired a new position in shares of BitFuFu in the 3rd quarter worth approximately $110,000. Institutional investors and hedge funds 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.