BitFuFu Inc. (NASDAQ:FUFU) Given Consensus Rating of “Hold” by Analysts

BitFuFu Inc. (NASDAQ:FUFU) has received an average rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $5.3750.

FUFU has been the subject of a number of research analyst reports. Weiss Ratings cut BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. Zacks Research cut BitFuFu from a “hold” rating to a “strong sell” rating in a report on Friday, May 22nd. Wall Street Zen cut BitFuFu from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, HC Wainwright lowered their price target on BitFuFu from $7.00 to $4.00 and set a “buy” rating for the company in a report on Monday, March 23rd.

Hedge Funds Weigh In On BitFuFu

A number of hedge funds and other institutional investors have recently bought and sold shares of FUFU. Boothbay Fund Management LLC purchased a new position in BitFuFu during the 4th quarter valued at about $31,000. Engineers Gate Manager LP purchased a new position in BitFuFu during the 2nd quarter valued at about $36,000. Squarepoint Ops LLC purchased a new position in BitFuFu during the 3rd quarter valued at about $48,000. Prelude Capital Management LLC purchased a new position in BitFuFu during the 3rd quarter valued at about $48,000. Finally, Jane Street Group LLC boosted its holdings in BitFuFu by 25.4% during the 2nd quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock valued at $51,000 after acquiring an additional 3,192 shares during the period. 37.26% of the stock is currently owned by hedge funds and other institutional investors.

BitFuFu Stock Performance

NASDAQ FUFU opened at $1.61 on Tuesday. The stock has a market cap of $268.24 million, a PE ratio of -3.66 and a beta of 0.42. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.81. BitFuFu has a twelve month low of $1.56 and a twelve month high of $5.38. The stock has a fifty day simple moving average of $2.04 and a 200-day simple moving average of $2.44.

BitFuFu (NASDAQ:FUFU) last released its quarterly earnings results on Saturday, March 21st. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The business had revenue of $103.42 million for the quarter, compared to analysts’ expectations of $105.15 million. BitFuFu had a negative return on equity of 3.81% and a negative net margin of 16.06%. Equities analysts anticipate that BitFuFu will post 0.11 earnings per share for the current year.

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.