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

BitFuFu Inc. (NASDAQ:FUFU) has earned a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $5.3750.

A number of research firms recently commented on FUFU. Weiss Ratings cut BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. Zacks Research upgraded BitFuFu from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. HC Wainwright reduced their price target on BitFuFu from $7.00 to $4.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Finally, Wall Street Zen upgraded BitFuFu from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd.

Institutional Investors Weigh In On BitFuFu

A number of institutional investors have recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in shares of BitFuFu by 25.4% during the second quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock worth $51,000 after acquiring an additional 3,192 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of BitFuFu by 24.7% during the fourth 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. Engineers Gate Manager LP bought a new stake in shares of BitFuFu during the second quarter worth approximately $36,000. Boothbay Fund Management LLC bought a new stake in shares of BitFuFu during the fourth quarter worth approximately $31,000. Finally, Prelude Capital Management LLC bought a new stake in shares of BitFuFu during the third quarter worth approximately $48,000. Institutional investors own 37.26% of the company’s stock.

BitFuFu Trading Up 0.5%

BitFuFu stock opened at $2.03 on Friday. BitFuFu has a 52 week low of $1.56 and a 52 week high of $5.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.29 and a current ratio of 3.30. The stock has a market capitalization of $338.22 million, a P/E ratio of -5.97 and a beta of 0.46. The stock has a 50-day simple moving average of $2.10 and a 200 day simple moving average of $2.57.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings results on Saturday, March 21st. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). BitFuFu had a negative return on equity of 13.32% and a negative net margin of 12.06%.The business had revenue of $103.42 million for the quarter, compared to the consensus estimate of $105.15 million. Analysts expect that BitFuFu will post 0.14 earnings per share for the current 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.