BitFuFu Inc. (NASDAQ:FUFU – Get Free Report)’s stock price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $3.65, but opened at $3.32. BitFuFu shares last traded at $3.40, with a volume of 466,008 shares.
The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.14). BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. The business had revenue of $99.82 million for the quarter, compared to analyst estimates of $114.03 million.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of BitFuFu in a report on Friday.
Institutional Trading of BitFuFu
A number of large investors have recently bought and sold shares of FUFU. Prospect Financial Group LLC acquired a new stake in BitFuFu during the 4th quarter worth about $50,000. WINTON GROUP Ltd bought a new position in shares of BitFuFu during the 4th quarter worth about $83,000. OLD Mission Capital LLC bought a new position in shares of BitFuFu during the 4th quarter worth about $67,000. Wedbush Securities Inc. bought a new position in shares of BitFuFu during the 1st quarter worth about $50,000. Finally, Vident Advisory LLC bought a new position in shares of BitFuFu during the 1st quarter worth about $905,000. 37.26% of the stock is currently owned by institutional investors and hedge funds.
BitFuFu Stock Up 0.3%
The company has a market cap of $574.14 million, a P/E ratio of 10.06 and a beta of 0.33. The stock’s 50-day moving average price is $3.87 and its 200-day moving average price is $4.66. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88.
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.
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