BitFuFu Inc. (NASDAQ:FUFU) Receives Average Recommendation of “Hold” from Brokerages

BitFuFu Inc. (NASDAQ:FUFU) has been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $6.1250.

FUFU has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of BitFuFu in a research note on Thursday, November 13th. B. Riley dropped their price target on BitFuFu from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BitFuFu in a research note on Wednesday, October 8th. Finally, Zacks Research lowered BitFuFu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th.

BitFuFu Stock Down 8.7%

Shares of BitFuFu stock opened at $2.61 on Tuesday. BitFuFu has a twelve month low of $2.56 and a twelve month high of $5.98. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $3.24 and its 200 day moving average is $3.50. The company has a market cap of $434.52 million, a price-to-earnings ratio of 6.69 and a beta of 0.32.

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

Institutional Trading of BitFuFu

Several hedge funds and other institutional investors have recently modified their holdings of FUFU. Engineers Gate Manager LP bought a new stake in shares of BitFuFu during the 2nd quarter valued at $36,000. Squarepoint Ops LLC bought a new position in BitFuFu in the 3rd quarter valued at about $48,000. Prelude Capital Management LLC bought a new position in BitFuFu in the 3rd quarter valued at about $48,000. Jane Street Group LLC raised its position in shares of BitFuFu by 25.4% in the 2nd quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock valued at $51,000 after buying an additional 3,192 shares in the last quarter. Finally, Harvest Portfolios Group Inc. bought a new stake in shares of BitFuFu during the 2nd quarter worth approximately $142,000. Institutional investors own 37.26% of the company’s stock.

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.