BitFuFu (NASDAQ:FUFU) Upgraded at Zacks Research

Zacks Research upgraded shares of BitFuFu (NASDAQ:FUFU) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

FUFU has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of BitFuFu in a report on Monday. HC Wainwright reduced their target price on BitFuFu from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Finally, Wall Street Zen cut BitFuFu from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.38.

BitFuFu Price Performance

Shares of FUFU stock opened at $2.21 on Monday. The stock has a 50-day moving average price of $2.23 and a 200 day moving average price of $2.78. The company has a quick ratio of 2.93, a current ratio of 2.94 and a debt-to-equity ratio of 0.77. The firm has a market cap of $367.92 million, a price-to-earnings ratio of -6.50 and a beta of 0.42. BitFuFu has a 12 month low of $1.56 and a 12 month high of $5.38.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings data on Friday, March 20th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The firm had revenue of $91.80 million during the quarter, compared to analyst estimates of $105.15 million. BitFuFu had a negative return on equity of 13.82% and a negative net margin of 12.06%. Research analysts expect that BitFuFu will post 0.06 EPS for the current year.

Hedge Funds Weigh In On BitFuFu

Several institutional investors have recently modified their holdings of the business. Jane Street Group LLC lifted its holdings in shares of BitFuFu by 25.4% during the 2nd 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. Renaissance Technologies LLC lifted its holdings in shares of BitFuFu by 24.7% during the 4th quarter. Renaissance Technologies LLC now owns 54,000 shares of the company’s stock valued at $143,000 after purchasing an additional 10,700 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of BitFuFu during the 2nd quarter valued at about $36,000. Boothbay Fund Management LLC bought a new position in shares of BitFuFu during the 4th quarter valued at about $31,000. Finally, Prelude Capital Management LLC bought a new position in shares of BitFuFu during the 3rd quarter valued at about $48,000. 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.