BitFuFu (NASDAQ:FUFU) Rating Increased to Hold at Wall Street Zen

BitFuFu (NASDAQ:FUFU) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Other equities research analysts have also issued reports about the stock. B. Riley assumed coverage on shares of BitFuFu in a report on Friday. They set a “buy” rating and a $7.31 target price on the stock. Northland Capmk upgraded shares of BitFuFu to a “hold” rating in a report on Wednesday, June 18th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of BitFuFu in a report on Friday, June 6th. Finally, Northland Securities assumed coverage on shares of BitFuFu in a report on Wednesday, June 18th. They issued a “market perform” rating and a $5.50 price objective on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.60.

BitFuFu Price Performance

Shares of FUFU opened at $4.29 on Friday. The firm has a market capitalization of $699.74 million, a PE ratio of 214.61 and a beta of 0.30. 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 $6.33. The company’s fifty day moving average price is $3.51 and its 200-day moving average price is $4.27.

BitFuFu (NASDAQ:FUFU) last posted its earnings results 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). BitFuFu had a net margin of 0.46% and a return on equity of 1.34%. The business had revenue of $99.82 million for the quarter, compared to analyst estimates of $114.03 million. On average, equities research analysts predict that BitFuFu will post 0.17 EPS for the current year.

Institutional Investors Weigh In On BitFuFu

A number of institutional investors have recently bought and sold shares of FUFU. Prospect Financial Group LLC purchased a new stake in BitFuFu in the fourth quarter valued at approximately $50,000. Wedbush Securities Inc. purchased a new stake in BitFuFu during the first quarter worth approximately $50,000. Jane Street Group LLC purchased a new stake in BitFuFu during the first quarter worth approximately $57,000. OLD Mission Capital LLC purchased a new stake in BitFuFu during the fourth quarter worth approximately $67,000. Finally, WINTON GROUP Ltd purchased a new stake in BitFuFu during the fourth quarter worth approximately $83,000. 37.26% of the stock is currently owned by hedge funds and other institutional investors.

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.