BitFuFu (NASDAQ:FUFU) Given New $4.00 Price Target at HC Wainwright

BitFuFu (NASDAQ:FUFU) had its price target lowered by HC Wainwright from $7.00 to $4.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

FUFU has been the topic of several other reports. Weiss Ratings reissued a “sell (d+)” rating on shares of BitFuFu in a research note on Wednesday, January 21st. Zacks Research downgraded shares of BitFuFu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.38.

BitFuFu Price Performance

FUFU stock opened at $2.01 on Monday. 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 $334.62 million, a price-to-earnings ratio of -5.91 and a beta of 0.35. The company’s fifty day simple moving average is $2.62 and its 200 day simple moving average is $3.05. BitFuFu has a 12-month low of $1.56 and a 12-month high of $5.85.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings results on Friday, March 20th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). BitFuFu had a negative return on equity of 12.60% and a negative net margin of 12.06%.The business had revenue of $91.80 million for the quarter, compared to analyst estimates of $105.15 million. On average, analysts expect that BitFuFu will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On BitFuFu

Institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP acquired a new position in shares of BitFuFu during the second quarter valued at about $36,000. Boothbay Fund Management LLC bought a new stake in shares of BitFuFu during the fourth quarter worth about $31,000. Jane Street Group LLC acquired a new stake in shares of BitFuFu in the 1st quarter worth about $57,000. Prelude Capital Management LLC acquired a new stake in shares of BitFuFu in the 3rd quarter worth about $48,000. Finally, Squarepoint Ops LLC bought a new position in BitFuFu in the 3rd quarter valued at about $48,000. 37.26% of the stock is owned by institutional investors and hedge funds.

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.