BitFuFu (NASDAQ:FUFU) Upgraded by Northland Capmk to “Hold” Rating

BitFuFu (NASDAQ:FUFU) was upgraded by analysts at Northland Capmk to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on FUFU. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of BitFuFu in a report on Friday, June 6th. Northland Securities began coverage on BitFuFu in a research report on Wednesday. They set a “market perform” rating and a $5.50 price objective for the company.

BitFuFu Trading Down 0.9%

Shares of NASDAQ FUFU opened at $3.18 on Wednesday. The company has a quick ratio of 3.02, a current ratio of 3.03 and a debt-to-equity ratio of 0.94. The stock’s 50 day moving average price is $3.70 and its two-hundred day moving average price is $4.55. BitFuFu has a 52-week low of $2.91 and a 52-week high of $7.39. The stock has a market capitalization of $518.69 million, a P/E ratio of 159.08 and a beta of 0.33.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings data on Thursday, June 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.14). BitFuFu had a return on equity of 1.34% and a net margin of 0.46%. The firm had revenue of $99.82 million for the quarter, compared to the consensus estimate of $114.03 million. On average, analysts anticipate that BitFuFu will post 0.17 earnings per share for the current fiscal year.

Institutional Trading of BitFuFu

Hedge funds have recently bought and sold shares of the company. Vident Advisory LLC acquired a new position in BitFuFu during the 1st quarter valued at about $905,000. WINTON GROUP Ltd bought a new stake in shares of BitFuFu during the fourth quarter valued at approximately $83,000. OLD Mission Capital LLC acquired a new position in shares of BitFuFu during the fourth quarter worth approximately $67,000. Jane Street Group LLC bought a new position in BitFuFu in the 1st quarter worth approximately $57,000. Finally, Wedbush Securities Inc. bought a new position in BitFuFu in the 1st quarter worth approximately $50,000. 37.26% of the stock is currently owned by 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.