BitFuFu Inc. (NASDAQ:FUFU) Receives Average Rating of “Hold” from Analysts

Shares of BitFuFu Inc. (NASDAQ:FUFU) have been given a consensus rating of “Hold” by the six analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $5.3750.

FUFU has been the topic of a number of analyst reports. Weiss Ratings downgraded BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 4th. Wall Street Zen raised BitFuFu from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. HC Wainwright reduced their price target on BitFuFu from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Finally, Zacks Research raised BitFuFu from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th.

BitFuFu Price Performance

BitFuFu stock opened at $1.90 on Friday. BitFuFu has a 12 month low of $1.56 and a 12 month high of $5.38. The stock’s 50 day moving average is $2.13 and its 200-day moving average is $2.59. The company has a current ratio of 3.30, a quick ratio of 3.29 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $316.56 million, a price-to-earnings ratio of -5.59 and a beta of 0.46.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings results on Saturday, March 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The company had revenue of $103.42 million for the quarter, compared to analyst estimates of $105.15 million. BitFuFu had a negative return on equity of 13.32% and a negative net margin of 12.06%. Equities research analysts expect that BitFuFu will post 0.14 EPS for the current year.

Institutional Investors Weigh In On BitFuFu

Large investors have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC acquired a new stake in BitFuFu during the fourth quarter worth approximately $31,000. Engineers Gate Manager LP acquired a new stake in shares of BitFuFu in the 2nd quarter valued at $36,000. Squarepoint Ops LLC acquired a new stake in shares of BitFuFu in the 3rd quarter valued at $48,000. Prelude Capital Management LLC acquired a new stake in shares of BitFuFu in the 3rd quarter valued at $48,000. Finally, Jane Street Group LLC boosted its holdings in shares of BitFuFu by 25.4% in the 2nd quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock valued at $51,000 after purchasing an additional 3,192 shares in the last quarter. Institutional investors and hedge funds own 37.26% of the company’s stock.

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.