BitFuFu Inc. (NASDAQ:FUFU) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of BitFuFu Inc. (NASDAQ:FUFU) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.00.

A number of equities analysts recently weighed in on FUFU shares. Zacks Research raised shares of BitFuFu from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. JonesTrading upgraded BitFuFu to a “strong-buy” rating in a report on Sunday, September 27th. Finally, Weiss Ratings cut BitFuFu from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, September 16th.

BitFuFu Stock Down 2.3%

NASDAQ FUFU opened at $1.08 on Friday. The firm has a market cap of $179.94 million, a PE ratio of -1.29 and a beta of 0.44. BitFuFu has a one year low of $0.64 and a one year high of $3.56. The stock’s 50 day simple moving average is $1.31 and its 200 day simple moving average is $1.85. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.22 and a quick ratio of 4.22.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings results on Monday, August 17th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). BitFuFu had a negative net margin of 36.00% and a negative return on equity of 18.05%. The firm had revenue of $42.76 million during the quarter, compared to the consensus estimate of $75.02 million.

About BitFuFu

BitFuFu Limited (NASDAQ:FUFU) is a digital asset mining and mining-services company focused primarily on Bitcoin. The company provides cloud-mining services that allow customers to purchase or lease computing power and participate in cryptocurrency mining without directly owning and operating mining hardware.

In addition to its cloud-mining business, BitFuFu operates through self-mining, mining-hardware sales and hosting services. Its platform is designed to support the procurement, deployment and management of mining equipment, while its hosting services allow customers to place mining machines in third-party facilities and receive operational support.

BitFuFu was established in 2020 and developed a strategic relationship with Bitmain, a major manufacturer of cryptocurrency-mining hardware.