BitFuFu (NASDAQ:FUFU) Posts Earnings Results

BitFuFu (NASDAQ:FUFU) announced its earnings results on Friday. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.23), FiscalAI reports. BitFuFu had a negative net margin of 12.06% and a negative return on equity of 13.32%. The firm had revenue of $72.66 million for the quarter, compared to analyst estimates of $93.35 million.

BitFuFu Price Performance

NASDAQ:FUFU opened at $2.00 on Friday. BitFuFu has a one year low of $1.56 and a one year high of $5.38. The stock has a market cap of $333.22 million, a PE ratio of -5.88 and a beta of 0.46. 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 50 day moving average price of $2.07 and a 200 day moving average price of $2.53.

Wall Street Analysts Forecast Growth

FUFU has been the subject of a number of research analyst reports. Weiss Ratings cut BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. HC Wainwright reduced 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 raised BitFuFu from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Zacks Research cut BitFuFu from a “hold” rating to a “strong sell” rating in a report on Friday, May 22nd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.38.

Institutional Trading of BitFuFu

Several large investors have recently added to or reduced their stakes in FUFU. Vident Advisory LLC increased its stake in shares of BitFuFu by 17.3% in the 4th quarter. Vident Advisory LLC now owns 223,893 shares of the company’s stock worth $591,000 after acquiring an additional 33,052 shares during the last quarter. RPO LLC acquired a new stake in shares of BitFuFu in the 4th quarter worth $61,000. Vontobel Holding Ltd. increased its stake in shares of BitFuFu by 12.6% in the 4th quarter. Vontobel Holding Ltd. now owns 156,986 shares of the company’s stock worth $413,000 after acquiring an additional 17,605 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of BitFuFu by 24.7% in 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of BitFuFu in the 2nd quarter worth $529,000. 37.26% of the stock is currently owned by hedge funds and other 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.