BitFuFu Inc. (NASDAQ:FUFU) Receives $6.45 Average Target Price from Analysts

BitFuFu Inc. (NASDAQ:FUFU) has received a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.4525.

FUFU has been the topic of a number of analyst reports. Wall Street Zen upgraded BitFuFu from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Northland Capmk upgraded BitFuFu to a “hold” rating in a research report on Wednesday, June 18th. B. Riley initiated coverage on BitFuFu in a research report on Friday, July 18th. They set a “buy” rating and a $7.31 price objective on the stock. Northland Securities initiated coverage on BitFuFu in a research report on Wednesday, June 18th. They set a “market perform” rating and a $5.50 price objective on the stock. Finally, Roth Capital initiated coverage on BitFuFu in a research report on Wednesday. They set a “buy” rating and a $6.00 price objective on the stock.

Institutional Investors Weigh In On BitFuFu

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vident Advisory LLC raised its position in BitFuFu by 24.3% in the second quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock valued at $793,000 after purchasing an additional 47,987 shares during the period. Engineers Gate Manager LP purchased a new stake in BitFuFu in the second quarter valued at $36,000. Jane Street Group LLC raised its position in BitFuFu by 25.4% in the second quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock valued at $51,000 after purchasing an additional 3,192 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in BitFuFu in the second quarter valued at $529,000. Finally, Invesco Ltd. purchased a new stake in BitFuFu in the second quarter valued at $321,000. Hedge funds and other institutional investors own 37.26% of the company’s stock.

BitFuFu Stock Performance

Shares of NASDAQ:FUFU opened at $3.77 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.03 and a quick ratio of 3.02. The business’s 50 day moving average price is $3.56 and its 200-day moving average price is $4.06. The firm has a market capitalization of $618.85 million, a PE ratio of 188.59 and a beta of 0.31. BitFuFu has a 1 year low of $2.91 and a 1 year high of $6.24.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings results on Friday, August 15th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. BitFuFu had a return on equity of 1.34% and a net margin of 0.46%. The firm had revenue of $115.40 million for the quarter, compared to analyst estimates of $101.60 million. During the same period in the previous year, the company posted ($0.01) earnings per share. As a group, equities research analysts expect that BitFuFu will post 0.17 earnings per share for the current fiscal year.

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.