BitFuFu (NASDAQ:FUFU) Cut to “Sell” at Wall Street Zen

BitFuFu (NASDAQ:FUFU) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BitFuFu in a research report on Wednesday, January 21st. HC Wainwright decreased their target price on BitFuFu from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Finally, Zacks Research lowered BitFuFu from a “hold” rating to a “strong sell” rating in a report on Friday, March 20th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.38.

BitFuFu Price Performance

NASDAQ FUFU opened at $1.89 on Friday. BitFuFu has a 1 year low of $1.56 and a 1 year high of $5.38. The company has a fifty day simple moving average of $2.51 and a 200 day simple moving average of $3.01. The company has a current ratio of 2.94, a quick ratio of 2.58 and a debt-to-equity ratio of 0.77. The company has a market cap of $314.65 million, a P/E ratio of -5.56 and a beta of 0.35.

BitFuFu (NASDAQ:FUFU) last announced its earnings results on Friday, March 20th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.18). The firm had revenue of $91.80 million during the quarter, compared to the consensus estimate of $105.15 million. BitFuFu had a negative return on equity of 13.82% and a negative net margin of 12.06%. On average, sell-side analysts predict that BitFuFu will post 0.17 EPS for the current year.

Institutional Trading of BitFuFu

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of BitFuFu during the 2nd quarter worth about $529,000. Vontobel Holding Ltd. bought a new stake in shares of BitFuFu in the third quarter valued at about $521,000. Invesco Ltd. bought a new stake in shares of BitFuFu in the second quarter valued at about $321,000. Harvest Portfolios Group Inc. grew its position in BitFuFu by 153.9% during the third quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company’s stock worth $420,000 after buying an additional 67,882 shares in the last quarter. Finally, Vident Advisory LLC grew its position in BitFuFu by 24.3% during the second quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock worth $793,000 after buying an additional 47,987 shares in the last quarter. 37.26% of the stock is currently owned by institutional investors and hedge funds.

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.