BitFuFu (NASDAQ:FUFU) Price Target Lowered to $6.00 at B. Riley

BitFuFu (NASDAQ:FUFU) had its price target decreased by B. Riley from $7.00 to $6.00 in a report released on Tuesday morning,Benzinga reports. B. Riley currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on FUFU. Roth Capital started coverage on shares of BitFuFu in a research report on Wednesday, August 13th. They set a “buy” rating and a $6.00 price target for the company. Zacks Research upgraded BitFuFu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of BitFuFu in a research note on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BitFuFu has a consensus rating of “Moderate Buy” and an average target price of $6.13.

BitFuFu Stock Up 4.2%

Shares of NASDAQ:FUFU opened at $2.96 on Tuesday. The stock has a 50-day simple moving average of $3.60 and a 200-day simple moving average of $3.61. The stock has a market capitalization of $492.78 million, a P/E ratio of 7.59 and a beta of 0.31. BitFuFu has a 1 year low of $2.71 and a 1 year high of $6.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.58 and a current ratio of 2.58.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. BitFuFu had a net margin of 13.57% and a return on equity of 16.60%. The firm had revenue of $180.67 million for the quarter, compared to analyst estimates of $130.17 million. Equities analysts forecast that BitFuFu will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vident Advisory LLC purchased a new stake in BitFuFu during the 1st quarter worth approximately $905,000. Harvest Portfolios Group Inc. bought a new position in BitFuFu during the 2nd quarter valued at $142,000. Wedbush Securities Inc. acquired a new position in BitFuFu during the 1st quarter worth $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BitFuFu by 51.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 247,703 shares of the company’s stock worth $929,000 after purchasing an additional 83,984 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of BitFuFu in the 3rd quarter valued at about $48,000. Institutional investors and hedge funds own 37.26% of the company’s stock.

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.