BitFuFu’s (FUFU) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of BitFuFu (NASDAQ:FUFU) in a report released on Monday morning,Benzinga reports. The firm currently has a $7.00 price target on the stock.

BitFuFu Stock Down 1.5%

Shares of FUFU opened at $3.94 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09. The company has a market capitalization of $642.64 million, a P/E ratio of 11.26 and a beta of 0.31. The business’s 50 day simple moving average is $4.19 and its 200-day simple moving average is $4.83. BitFuFu has a one year low of $2.89 and a one year high of $7.39.

BitFuFu (NASDAQ:FUFU) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.17. BitFuFu had a net margin of 8.17% and a return on equity of 40.15%. The business had revenue of $99.29 million for the quarter, compared to analysts’ expectations of $99.29 million. As a group, sell-side analysts predict that BitFuFu will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC increased its stake in BitFuFu by 14.0% in the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after purchasing an additional 1,984 shares in the last quarter. Prospect Financial Group LLC bought a new stake in BitFuFu during the fourth quarter worth about $50,000. OLD Mission Capital LLC bought a new position in shares of BitFuFu in the fourth quarter valued at $67,000. WINTON GROUP Ltd acquired a new stake in BitFuFu in the 4th quarter valued at about $83,000. Finally, Wedbush Securities Inc. acquired a new position in shares of BitFuFu during the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 37.26% of the company’s stock.

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.