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

Shares of BitFuFu Inc. (NASDAQ:FUFU) have received a consensus rating of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $6.1250.

Several brokerages have commented on FUFU. Weiss Ratings restated a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, January 21st. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of BitFuFu in a research note on Thursday, November 13th. B. Riley Financial lowered their price objective on shares of BitFuFu from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Finally, Zacks Research downgraded BitFuFu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th.

Hedge Funds Weigh In On BitFuFu

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its holdings in shares of BitFuFu by 25.4% during the 2nd quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock valued at $51,000 after buying an additional 3,192 shares in the last quarter. Renaissance Technologies LLC boosted its stake in BitFuFu by 24.7% during the fourth quarter. Renaissance Technologies LLC now owns 54,000 shares of the company’s stock worth $143,000 after acquiring an additional 10,700 shares in the last quarter. Engineers Gate Manager LP bought a new stake in BitFuFu during the second quarter worth about $36,000. Boothbay Fund Management LLC purchased a new stake in BitFuFu in the fourth quarter worth about $31,000. Finally, Prelude Capital Management LLC bought a new position in shares of BitFuFu during the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 37.26% of the company’s stock.

BitFuFu Price Performance

Shares of BitFuFu stock opened at $2.56 on Friday. The business has a 50 day moving average of $2.75 and a 200 day moving average of $3.18. BitFuFu has a 52 week low of $2.05 and a 52 week high of $5.85. The company has a market cap of $426.19 million, a PE ratio of 6.56 and a beta of 0.35. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.47.

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.