BitFuFu Inc. (NASDAQ:FUFU) Receives Average Rating of “Hold” from Brokerages

Shares of BitFuFu Inc. (NASDAQ:FUFU) have received an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.1250.

A number of research firms have recently weighed in on FUFU. Zacks Research downgraded BitFuFu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. B. Riley dropped their price objective on BitFuFu from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Weiss Ratings restated a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, October 8th. Finally, HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of BitFuFu in a research report on Thursday, November 13th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vident Advisory LLC bought a new stake in BitFuFu in the first quarter valued at approximately $905,000. Jane Street Group LLC bought a new stake in shares of BitFuFu in the 1st quarter valued at $57,000. Harvest Portfolios Group Inc. bought a new stake in shares of BitFuFu in the 2nd quarter valued at $142,000. Invesco Ltd. acquired a new stake in BitFuFu during the 2nd quarter worth $321,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in BitFuFu during the second quarter worth about $529,000. Institutional investors and hedge funds own 37.26% of the company’s stock.

BitFuFu Stock Up 4.2%

Shares of NASDAQ FUFU opened at $2.72 on Tuesday. BitFuFu has a 1 year low of $2.55 and a 1 year high of $5.98. The firm’s 50-day moving average is $3.12 and its 200-day moving average is $3.47. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $452.83 million, a PE ratio of 6.97 and a beta of 0.32.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings data 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 net margin of 13.57% and a return on equity of 16.60%. The business had revenue of $180.67 million for the quarter, compared to analyst estimates of $130.17 million. Equities analysts expect that BitFuFu will post 0.17 EPS for the current year.

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.