BitFuFu (NASDAQ:FUFU) Earns “Buy” Rating from HC Wainwright

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $7.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 120.13% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Roth Capital began coverage on BitFuFu in a research report on Wednesday, August 13th. They set a “buy” rating and a $6.00 target price for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, October 8th. B. Riley assumed coverage on BitFuFu in a report on Friday, July 18th. They set a “buy” rating and a $7.31 price target for the company. Zacks Research raised BitFuFu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. Finally, Wall Street Zen raised shares of BitFuFu from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.45.

BitFuFu Trading Up 5.3%

Shares of NASDAQ:FUFU opened at $3.18 on Thursday. The company has a current ratio of 2.58, a quick ratio of 2.96 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $529.41 million, a PE ratio of 8.15 and a beta of 0.31. BitFuFu has a 1 year low of $2.78 and a 1 year high of $6.24. The firm has a fifty day moving average price of $3.63 and a 200 day moving average price of $3.61.

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

Institutional Investors Weigh In On BitFuFu

Institutional investors and hedge funds have recently bought and sold shares of the business. Vident Advisory LLC boosted its position in shares of BitFuFu by 24.3% during the 2nd quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock valued at $793,000 after acquiring an additional 47,987 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of BitFuFu during the second quarter valued at $529,000. Vontobel Holding Ltd. bought a new position in BitFuFu during the 3rd quarter valued at about $521,000. Harvest Portfolios Group Inc. boosted its holdings in shares of BitFuFu by 153.9% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company’s stock worth $420,000 after acquiring an additional 67,882 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in BitFuFu during the 2nd quarter worth approximately $321,000. 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.