BitFuFu Inc. (NASDAQ:FUFU) Receives Average Rating of “Hold” from Brokerages

Shares of BitFuFu Inc. (NASDAQ:FUFU) have been assigned an average rating of “Hold” from the six research firms that are currently covering the firm, Marketbeat Ratings 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 1-year target price among brokerages that have updated their coverage on the stock in the last year is $5.3750.

A number of brokerages recently weighed in on FUFU. Weiss Ratings downgraded shares of BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Wall Street Zen downgraded shares of BitFuFu from a “hold” rating to a “sell” rating in a research note on Saturday. HC Wainwright decreased their price target on shares of BitFuFu from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Finally, Zacks Research downgraded shares of BitFuFu from a “hold” rating to a “strong sell” rating in a research note on Friday, May 22nd.

BitFuFu Trading Up 3.6%

Shares of FUFU opened at $1.71 on Tuesday. The firm’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $2.47. The company has a market capitalization of $284.90 million, a P/E ratio of -3.89 and a beta of 0.42. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.16 and a quick ratio of 4.16. BitFuFu has a 1-year low of $1.56 and a 1-year high of $5.38.

BitFuFu (NASDAQ:FUFU) last announced its 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 company had revenue of $103.42 million during the quarter, compared to analysts’ expectations of $105.15 million. BitFuFu had a negative net margin of 16.06% and a negative return on equity of 3.81%. Sell-side analysts forecast that BitFuFu will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Invesco Ltd. raised its stake in shares of BitFuFu by 26.8% during the fourth quarter. Invesco Ltd. now owns 89,736 shares of the company’s stock worth $237,000 after acquiring an additional 18,967 shares in the last quarter. Vident Advisory LLC raised its stake in shares of BitFuFu by 17.3% during the fourth quarter. Vident Advisory LLC now owns 223,893 shares of the company’s stock worth $591,000 after acquiring an additional 33,052 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of BitFuFu during the fourth quarter worth approximately $31,000. RPO LLC purchased a new position in shares of BitFuFu during the fourth quarter worth approximately $61,000. Finally, Vontobel Holding Ltd. raised its stake in shares of 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 acquiring an additional 17,605 shares in the last quarter. 37.26% of the stock is owned by hedge funds and other institutional investors.

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.