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

BitFuFu Inc. (NASDAQ:FUFU) has earned an average recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $6.1250.

FUFU has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of BitFuFu in a research report on Thursday, November 13th. B. Riley dropped their target price on shares of BitFuFu from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Zacks Research downgraded shares of BitFuFu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BitFuFu in a research report on Wednesday, October 8th.

Institutional Investors Weigh In On BitFuFu

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in BitFuFu in the 1st quarter worth about $57,000. Harvest Portfolios Group Inc. purchased a new stake in shares of BitFuFu during the 2nd quarter valued at about $142,000. Invesco Ltd. bought a new stake in shares of BitFuFu in the second quarter worth approximately $321,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of BitFuFu in the second quarter worth approximately $529,000. Finally, Engineers Gate Manager LP purchased a new position in shares of BitFuFu during the second quarter valued at approximately $36,000. 37.26% of the stock is owned by hedge funds and other institutional investors.

BitFuFu Price Performance

Shares of FUFU opened at $3.37 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.58 and a current ratio of 2.58. The stock has a market cap of $561.04 million, a PE ratio of 8.64 and a beta of 0.33. The firm’s 50-day simple moving average is $2.91 and its two-hundred day simple moving average is $3.43. BitFuFu has a fifty-two week low of $2.38 and a fifty-two week high of $5.85.

BitFuFu (NASDAQ:FUFU) last released its earnings results on Wednesday, November 12th. The company reported $0.06 EPS for the quarter, topping 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 business had revenue of $180.67 million for the quarter, compared to the consensus estimate of $130.17 million. Analysts anticipate 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.