Northland Securities Initiates Coverage on BitFuFu (NASDAQ:FUFU)

Equities researchers at Northland Securities started coverage on shares of BitFuFu (NASDAQ:FUFU) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set a “market perform” rating and a $5.50 price target on the stock. Northland Securities’ price target suggests a potential upside of 72.96% from the stock’s current price.

Separately, HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of BitFuFu in a report on Friday, June 6th.

BitFuFu Price Performance

FUFU stock opened at $3.18 on Wednesday. BitFuFu has a 1 year low of $2.91 and a 1 year high of $7.39. The company has a market cap of $518.69 million, a P/E ratio of 159.08 and a beta of 0.33. The firm has a 50-day moving average of $3.68 and a 200 day moving average of $4.54. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.03 and a quick ratio of 3.02.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings data on Thursday, June 5th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.14). The business had revenue of $99.82 million during the quarter, compared to analysts’ expectations of $114.03 million. BitFuFu had a return on equity of 1.34% and a net margin of 0.46%. On average, sell-side analysts forecast that BitFuFu will post 0.17 EPS for the current year.

Institutional Investors Weigh In On BitFuFu

Hedge funds and other institutional investors have recently bought and sold shares of the business. Prospect Financial Group LLC purchased a new stake in BitFuFu in the fourth quarter worth about $50,000. Wedbush Securities Inc. purchased a new stake in BitFuFu in the first quarter worth about $50,000. Jane Street Group LLC purchased a new stake in BitFuFu in the first quarter worth about $57,000. OLD Mission Capital LLC purchased a new stake in BitFuFu in the fourth quarter worth about $67,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of BitFuFu during the fourth quarter valued at approximately $83,000. Hedge funds and other institutional investors own 37.26% of the company’s stock.

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.