BitFuFu (NASDAQ:FUFU) Stock Bumped Up to “Strong-Buy” by JonesTrading

JonesTrading upgraded shares of BitFuFu (NASDAQ:FUFU) to a strong-buy rating in a research report sent to investors on Sunday morning,Zacks reports.

A number of other brokerages have also recently issued reports on FUFU. Weiss Ratings cut BitFuFu from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, September 16th. Wall Street Zen cut BitFuFu from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Zacks Research upgraded BitFuFu from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

BitFuFu Stock Performance

NASDAQ:FUFU opened at $1.40 on Friday. The company has a 50-day moving average of $1.35 and a 200-day moving average of $1.70. The firm has a market cap of $233.26 million, a price-to-earnings ratio of -1.67 and a beta of 0.45. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 1.03. BitFuFu has a twelve month low of $1.18 and a twelve month high of $4.06.

BitFuFu (NASDAQ:FUFU) last released its earnings results on Monday, August 17th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $42.76 million for the quarter, compared to analyst estimates of $75.02 million. BitFuFu had a negative net margin of 36.00% and a negative return on equity of 18.05%.

BitFuFu announced that its Board of Directors has initiated a stock repurchase plan on Monday, June 22nd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

About BitFuFu

BitFuFu Limited is a digital asset mining services company that focuses primarily on Bitcoin mining and related infrastructure. The company provides cloud-mining services that allow customers to purchase or manage Bitcoin mining capacity without owning and operating mining equipment directly.

Its offerings also include Bitcoin self-mining, mining-farm hosting, hash-rate management and mining hardware sales. Through these services, BitFuFu supports individual and institutional customers with access to mining equipment, computing power and related operational capabilities.