BitFuFu Inc. (NASDAQ:FUFU) Given Average Rating of “Hold” by Brokerages

Shares of BitFuFu Inc. (NASDAQ:FUFU) have received a consensus rating of “Hold” from the six analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $5.3750.

FUFU has been the topic of several analyst reports. Weiss Ratings lowered shares of BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. Zacks Research lowered shares of BitFuFu from a “hold” rating to a “strong sell” rating in a report on Friday, May 22nd. Wall Street Zen lowered shares of BitFuFu from a “hold” rating to a “sell” rating in a report on Saturday. Finally, HC Wainwright cut their target price on shares of BitFuFu from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, March 23rd.

Institutional Investors Weigh In On BitFuFu

A number of hedge funds and other institutional investors have recently made changes to their positions in FUFU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of BitFuFu during the second quarter worth $529,000. Invesco Ltd. acquired a new stake in shares of BitFuFu during the second quarter worth $321,000. Harvest Portfolios Group Inc. raised its holdings in shares of 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 acquiring an additional 67,882 shares during the period. Vident Advisory LLC raised its holdings in shares of 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 acquiring an additional 47,987 shares during the period. Finally, RPO LLC acquired a new stake in shares of BitFuFu during the fourth quarter worth $61,000. 37.26% of the stock is currently owned by institutional investors and hedge funds.

BitFuFu Price Performance

Shares of BitFuFu stock opened at $1.71 on Tuesday. BitFuFu has a 1-year low of $1.56 and a 1-year high of $5.38. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.81. The firm’s 50-day moving average price is $2.06 and its two-hundred day moving average price is $2.47. The stock has a market capitalization of $284.90 million, a price-to-earnings ratio of -3.89 and a beta of 0.42.

BitFuFu (NASDAQ:FUFU) last posted its earnings results on Saturday, March 21st. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.18). The firm had revenue of $103.42 million during 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, equities analysts predict that BitFuFu will post 0.11 earnings per share for the current fiscal year.

About BitFuFu

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.