BitFuFu (NASDAQ:FUFU) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of BitFuFu (NASDAQ:FUFU) in a research note issued to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a $7.00 price objective on the stock.

A number of other analysts have also commented on the company. Roth Capital initiated coverage on BitFuFu in a report on Wednesday, August 13th. They issued a “buy” rating and a $6.00 target price for the company. Northland Capmk upgraded BitFuFu to a “hold” rating in a research note on Wednesday, June 18th. Zacks Research upgraded BitFuFu from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 13th. Northland Securities initiated coverage on BitFuFu in a research note on Wednesday, June 18th. They issued a “market perform” rating and a $5.50 price target on the stock. Finally, Wall Street Zen upgraded BitFuFu from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, BitFuFu currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.45.

BitFuFu Stock Down 2.9%

BitFuFu stock opened at $3.37 on Tuesday. The firm has a market cap of $553.20 million, a price-to-earnings ratio of 11.62 and a beta of 0.31. The stock has a fifty day simple moving average of $3.56 and a two-hundred day simple moving average of $4.03. BitFuFu has a 12 month low of $2.91 and a 12 month high of $6.24. The company has a current ratio of 2.97, a quick ratio of 3.02 and a debt-to-equity ratio of 0.70.

BitFuFu (NASDAQ:FUFU) last posted its earnings results on Friday, August 15th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $115.40 million during the quarter, compared to analyst estimates of $101.60 million. BitFuFu had a return on equity of 10.33% and a net margin of 12.44%.During the same quarter last year, the company earned ($0.01) EPS. Equities analysts predict that BitFuFu will post 0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On BitFuFu

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC lifted its position in BitFuFu by 25.4% during 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 in the last quarter. Wedbush Securities Inc. purchased a new position in BitFuFu during the first quarter valued at $50,000. Engineers Gate Manager LP purchased a new position in BitFuFu during the second quarter valued at $36,000. Harvest Portfolios Group Inc. purchased a new position in BitFuFu during the second quarter valued at $142,000. Finally, Vident Advisory LLC lifted its position in BitFuFu by 24.3% during 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 in the last quarter. 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.