BitFuFu Inc. (NASDAQ:FUFU) Receives Consensus Rating of “Hold” from Analysts

BitFuFu Inc. (NASDAQ:FUFU) has earned an average rating of “Hold” from the six research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.1250.

FUFU has been the topic of several recent research reports. Zacks Research cut shares of BitFuFu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. B. Riley reduced their price objective 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 reaffirmed a “sell (d+)” rating on shares of BitFuFu in a research note on Wednesday, January 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of BitFuFu in a report on Thursday, November 13th.

BitFuFu Stock Performance

NASDAQ:FUFU opened at $2.78 on Wednesday. The company has a market cap of $462.81 million, a price-to-earnings ratio of 7.13 and a beta of 0.33. BitFuFu has a 1 year low of $2.38 and a 1 year high of $5.85. The stock’s 50 day simple moving average is $2.90 and its two-hundred day simple moving average is $3.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.58 and a quick ratio of 2.58.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.06 earnings per share for the quarter, topping 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 company had revenue of $180.67 million for the quarter, compared to analysts’ expectations of $130.17 million. As a group, equities analysts anticipate that BitFuFu will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BitFuFu

Institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP bought a new position in BitFuFu during the 2nd quarter valued at about $36,000. Jane Street Group LLC purchased a new position in shares of BitFuFu during the first quarter valued at approximately $57,000. Prelude Capital Management LLC bought a new position in shares of BitFuFu during the third quarter valued at approximately $48,000. Squarepoint Ops LLC purchased a new stake in shares of BitFuFu in the third quarter worth approximately $48,000. 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.

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.