BitFuFu (NASDAQ:FUFU) Stock Rating Lowered by Wall Street Zen

BitFuFu (NASDAQ:FUFU) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings lowered shares of BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 4th. Zacks Research lowered shares of BitFuFu from a “hold” rating to a “strong sell” rating in a research report on Friday, May 22nd. Finally, HC Wainwright lowered their price target on shares of BitFuFu from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.38.

BitFuFu Stock Performance

NASDAQ:FUFU opened at $1.65 on Friday. The company has a market cap of $274.91 million, a P/E ratio of -3.75 and a beta of 0.42. BitFuFu has a twelve month low of $1.56 and a twelve month high of $5.38. The company’s 50-day moving average price is $2.06 and its 200-day moving average price is $2.48. The company has a current ratio of 4.16, a quick ratio of 3.29 and a debt-to-equity ratio of 0.81.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings results on Saturday, March 21st. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The business had revenue of $103.42 million for the quarter, compared to analyst estimates of $105.15 million. BitFuFu had a negative return on equity of 3.81% and a negative net margin of 16.06%. On average, sell-side analysts forecast that BitFuFu will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BitFuFu

A number of institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in BitFuFu by 51.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 247,703 shares of the company’s stock worth $929,000 after purchasing an additional 83,984 shares during the period. Vident Advisory LLC raised its stake 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 purchasing an additional 47,987 shares during the period. Vontobel Holding Ltd. raised its stake in BitFuFu by 12.6% during the fourth quarter. Vontobel Holding Ltd. now owns 156,986 shares of the company’s stock worth $413,000 after purchasing an additional 17,605 shares during the period. Harvest Portfolios Group Inc. raised its stake 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 purchasing an additional 67,882 shares during the period. Finally, Invesco Ltd. purchased a new position in BitFuFu during the second quarter worth about $321,000. 37.26% of the stock is owned by hedge funds and other institutional investors.

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.