BitFuFu (NASDAQ:FUFU) Coverage Initiated at HC Wainwright

HC Wainwright initiated coverage on shares of BitFuFu (NASDAQ:FUFU) in a research note published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $7.00 price target on the stock. HC Wainwright also issued estimates for BitFuFu’s Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at $0.09 EPS and FY2025 earnings at ($0.07) EPS.

BitFuFu Price Performance

Shares of FUFU opened at $4.68 on Wednesday. The firm’s 50-day moving average is $4.45 and its two-hundred day moving average is $4.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.40 and a current ratio of 4.09. BitFuFu has a twelve month low of $2.32 and a twelve month high of $18.32.

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

Hedge Funds Weigh In On BitFuFu

A hedge fund recently bought a new stake in BitFuFu stock. MMCAP International Inc. SPC bought a new position in shares of BitFuFu Inc. (NASDAQ:FUFU) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,500 shares of the company’s stock, valued at approximately $82,000. MMCAP International Inc. SPC owned 0.38% of BitFuFu as of its most recent filing with the Securities and Exchange Commission (SEC). 37.26% of the stock is currently owned by hedge funds and other institutional investors.

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.