BitFuFu (NASDAQ:FUFU) Research Coverage Started at B. Riley

B. Riley started coverage on shares of BitFuFu (NASDAQ:FUFU) in a research report released on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $7.31 target price on the stock.

Other equities analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of BitFuFu in a report on Friday, June 6th. Wall Street Zen lowered BitFuFu from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Northland Capmk raised BitFuFu to a “hold” rating in a research note on Wednesday, June 18th. Finally, Northland Securities assumed coverage on BitFuFu in a research note on Wednesday, June 18th. They issued a “market perform” rating and a $5.50 target price on the stock. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.60.

BitFuFu Trading Up 10.6%

FUFU stock opened at $4.29 on Friday. The company has a quick ratio of 3.02, a current ratio of 3.03 and a debt-to-equity ratio of 0.94. BitFuFu has a twelve month low of $2.91 and a twelve month high of $6.33. The company has a market cap of $704.20 million, a P/E ratio of 214.61 and a beta of 0.30. The business has a fifty day moving average of $3.51 and a 200-day moving average of $4.25.

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

Hedge Funds Weigh In On BitFuFu

Hedge funds and other institutional investors have recently made changes to their positions in the company. Prospect Financial Group LLC bought a new stake in shares of BitFuFu in the 4th quarter valued at $50,000. WINTON GROUP Ltd bought a new stake in shares of BitFuFu in the fourth quarter worth about $83,000. OLD Mission Capital LLC bought a new stake in shares of BitFuFu in the fourth quarter worth about $67,000. Wedbush Securities Inc. acquired a new stake in shares of BitFuFu during the first quarter worth about $50,000. Finally, Vident Advisory LLC bought a new position in shares of BitFuFu during the 1st quarter valued at about $905,000. 37.26% of the stock is owned by 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.