BitFuFu Inc. (NASDAQ:FUFU) Receives $5.38 Average Target Price from Brokerages

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

A number of brokerages have recently weighed in on FUFU. Zacks Research lowered BitFuFu from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th. HC Wainwright decreased their target price on BitFuFu from $7.00 to $4.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Wall Street Zen lowered BitFuFu from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, January 21st.

Institutional Investors Weigh In On BitFuFu

A number of large investors have recently modified their holdings of the stock. Vident Advisory LLC increased its position in shares of BitFuFu by 17.3% during the fourth quarter. Vident Advisory LLC now owns 223,893 shares of the company’s stock valued at $591,000 after buying an additional 33,052 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in BitFuFu in the second quarter worth about $529,000. Vontobel Holding Ltd. boosted its position in BitFuFu by 12.6% during the 4th quarter. Vontobel Holding Ltd. now owns 156,986 shares of the company’s stock valued at $413,000 after acquiring an additional 17,605 shares in the last quarter. Invesco Ltd. boosted its position in BitFuFu by 26.8% during the 4th quarter. Invesco Ltd. now owns 89,736 shares of the company’s stock valued at $237,000 after acquiring an additional 18,967 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of BitFuFu by 24.7% during the 4th quarter. Renaissance Technologies LLC now owns 54,000 shares of the company’s stock worth $143,000 after acquiring an additional 10,700 shares during the period. Institutional investors own 37.26% of the company’s stock.

BitFuFu Stock Performance

Shares of FUFU opened at $1.89 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.94 and a quick ratio of 2.58. The stock has a 50-day moving average of $2.51 and a 200-day moving average of $3.00. The company has a market cap of $314.65 million, a PE ratio of -5.56 and a beta of 0.35. BitFuFu has a one year low of $1.56 and a one year high of $5.38.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings results on Friday, March 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The business had revenue of $91.80 million for the quarter, compared to analysts’ expectations of $105.15 million. BitFuFu had a negative net margin of 12.06% and a negative return on equity of 13.82%. On average, equities research analysts predict that BitFuFu will post 0.17 EPS 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.