BitFuFu Inc. (NASDAQ:FUFU) Receives $6.13 Average PT from Brokerages

BitFuFu Inc. (NASDAQ:FUFU) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $6.1250.

A number of equities analysts recently commented on FUFU shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, January 21st. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of BitFuFu in a research note on Thursday, November 13th. B. Riley Financial dropped their price target on BitFuFu from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Finally, Zacks Research cut shares of BitFuFu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP acquired a new stake in BitFuFu during the second quarter worth approximately $36,000. Squarepoint Ops LLC acquired a new stake in BitFuFu during the 3rd quarter worth approximately $48,000. Prelude Capital Management LLC bought a new stake in BitFuFu in the 3rd quarter valued at $48,000. Jane Street Group LLC boosted its stake in BitFuFu by 25.4% in 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 during the period. Finally, Harvest Portfolios Group Inc. acquired a new position in BitFuFu in the 2nd quarter valued at $142,000. Institutional investors and hedge funds own 37.26% of the company’s stock.

BitFuFu Price Performance

Shares of FUFU opened at $2.66 on Wednesday. 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 company’s fifty day simple moving average is $2.88 and its 200 day simple moving average is $3.35. BitFuFu has a 1-year low of $2.38 and a 1-year high of $5.85. The company has a market cap of $442.84 million, a price-to-earnings ratio of 6.82 and a beta of 0.33.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $180.67 million during the quarter, compared to analysts’ expectations of $130.17 million. BitFuFu had a net margin of 13.57% and a return on equity of 16.60%. On average, research analysts forecast that BitFuFu will post 0.17 earnings per share for the current fiscal year.

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.