BitFuFu (NASDAQ:FUFU) Stock Rating Upgraded by Northland Capmk

BitFuFu (NASDAQ:FUFU) was upgraded by research analysts at Northland Capmk to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on FUFU. Northland Securities initiated coverage on shares of BitFuFu in a research note on Wednesday. They issued a “market perform” rating and a $5.50 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of BitFuFu in a research note on Friday, June 6th.

BitFuFu Stock Performance

Shares of NASDAQ:FUFU opened at $3.18 on Wednesday. The company’s 50 day simple moving average is $3.68 and its 200 day simple moving average is $4.54. The stock has a market capitalization of $518.69 million, a price-to-earnings ratio of 159.08 and a beta of 0.33. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.03 and a quick ratio of 3.02. BitFuFu has a 1 year low of $2.91 and a 1 year high of $7.39.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings data on Thursday, June 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.14). The firm had revenue of $99.82 million during the quarter, compared to the consensus estimate of $114.03 million. BitFuFu had a net margin of 0.46% and a return on equity of 1.34%. As a group, research analysts predict that BitFuFu will post 0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On BitFuFu

Hedge funds and other institutional investors have recently bought and sold shares of the company. Prospect Financial Group LLC acquired a new position in shares of BitFuFu during the fourth quarter valued at about $50,000. Wedbush Securities Inc. bought a new stake in shares of BitFuFu during the first quarter worth about $50,000. Jane Street Group LLC bought a new stake in shares of BitFuFu during the first quarter worth about $57,000. OLD Mission Capital LLC bought a new stake in shares of BitFuFu during the fourth quarter worth about $67,000. Finally, WINTON GROUP Ltd bought a new stake in shares of BitFuFu during the fourth quarter worth about $83,000. Institutional investors and hedge funds own 37.26% of the company’s stock.

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.