BitFuFu Inc. (NASDAQ:FUFU) Given Consensus Rating of “Hold” by Brokerages

Shares of BitFuFu Inc. (NASDAQ:FUFU) have been assigned an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.1250.

Several equities analysts recently commented on FUFU shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of BitFuFu in a research note on Wednesday, January 21st. B. Riley Financial cut their price objective on shares of BitFuFu from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. 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, Zacks Research downgraded BitFuFu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th.

Institutional Trading of BitFuFu

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC raised its stake in shares of BitFuFu by 25.4% in the second 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 raised its stake in shares of BitFuFu by 24.7% in the 4th quarter. Renaissance Technologies LLC now owns 54,000 shares of the company’s stock valued at $143,000 after buying an additional 10,700 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of BitFuFu in the 2nd quarter valued at $36,000. Boothbay Fund Management LLC bought a new position in shares of BitFuFu during the 4th quarter worth about $31,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of BitFuFu during the 3rd quarter valued at about $48,000. 37.26% of the stock is currently owned by institutional investors.

BitFuFu Stock Down 2.1%

Shares of FUFU stock opened at $2.37 on Friday. BitFuFu has a 12 month low of $2.05 and a 12 month high of $5.85. 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 firm has a market cap of $394.56 million, a PE ratio of 6.08 and a beta of 0.33. The stock has a 50 day moving average of $2.75 and a 200-day moving average of $3.20.

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.