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

BitFuFu Inc. (NASDAQ:FUFU) has been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $5.3750.

FUFU has been the topic of a number of recent research reports. Wall Street Zen cut BitFuFu from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Zacks Research lowered shares of BitFuFu from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th. HC Wainwright dropped their price objective on shares of BitFuFu from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BitFuFu in a research report on Wednesday, January 21st.

Institutional Investors Weigh In On BitFuFu

A number of hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of BitFuFu by 51.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 247,703 shares of the company’s stock worth $929,000 after buying an additional 83,984 shares during the period. Vident Advisory LLC increased its position in BitFuFu by 24.3% in the 2nd quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock valued at $793,000 after acquiring an additional 47,987 shares during the period. Vontobel Holding Ltd. increased its position in BitFuFu by 12.6% in 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 during the period. Harvest Portfolios Group Inc. raised its stake in BitFuFu by 153.9% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company’s stock valued at $420,000 after acquiring an additional 67,882 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in BitFuFu during the 2nd quarter valued at $321,000. Institutional investors own 37.26% of the company’s stock.

BitFuFu Stock Down 9.7%

Shares of BitFuFu stock opened at $1.76 on Thursday. The stock has a market capitalization of $293.01 million, a price-to-earnings ratio of -5.18 and a beta of 0.35. BitFuFu has a twelve month low of $1.56 and a twelve month high of $5.38. The company has a current ratio of 2.94, a quick ratio of 2.93 and a debt-to-equity ratio of 0.77. The business’s 50 day simple moving average is $2.44 and its 200-day simple moving average is $2.96.

BitFuFu (NASDAQ:FUFU) last released its quarterly earnings data 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 company had revenue of $91.80 million for the quarter, compared to analyst estimates of $105.15 million. BitFuFu had a negative net margin of 12.06% and a negative return on equity of 13.82%. Equities research analysts forecast that BitFuFu will post 0.17 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.