BitFuFu (NASDAQ:FUFU) Upgraded at Zacks Research

Zacks Research upgraded shares of BitFuFu (NASDAQ:FUFU) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research analysts have also recently commented on FUFU. B. Riley began coverage on BitFuFu in a research note on Friday, July 18th. They set a “buy” rating and a $7.31 price objective on the stock. Northland Capmk raised BitFuFu to a “hold” rating in a research report on Wednesday, June 18th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of BitFuFu in a research report on Tuesday, August 19th. Northland Securities initiated coverage on BitFuFu in a research report on Wednesday, June 18th. They set a “market perform” rating and a $5.50 target price on the stock. Finally, Wall Street Zen raised BitFuFu from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.45.

BitFuFu Trading Up 1.0%

NASDAQ:FUFU opened at $4.23 on Thursday. The business’s 50-day moving average is $3.77 and its two-hundred day moving average is $3.88. The firm has a market capitalization of $694.37 million, a PE ratio of 14.59 and a beta of 0.32. BitFuFu has a 12 month low of $2.91 and a 12 month high of $6.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.97 and a quick ratio of 2.96.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings data on Friday, August 15th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $115.40 million for the quarter, compared to analysts’ expectations of $101.60 million. BitFuFu had a return on equity of 10.33% and a net margin of 12.44%.During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Research analysts predict that BitFuFu will post 0.17 earnings per share for the current fiscal year.

Institutional Trading of BitFuFu

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vident Advisory LLC acquired a new position in BitFuFu in the first quarter valued at approximately $905,000. Wedbush Securities Inc. acquired a new position in BitFuFu in the first quarter valued at approximately $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in BitFuFu in the second quarter valued at approximately $529,000. Invesco Ltd. acquired a new position in BitFuFu in the second quarter valued at approximately $321,000. Finally, Jane Street Group LLC acquired a new position in BitFuFu in the first quarter valued at approximately $57,000. 37.26% of the stock is owned by 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.