BitFuFu Inc. (NASDAQ:FUFU) Receives $5.38 Consensus Target Price from Brokerages

Shares of BitFuFu Inc. (NASDAQ:FUFU) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $5.3750.

FUFU has been the subject of several research reports. Wall Street Zen cut shares of BitFuFu from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Zacks Research cut shares of BitFuFu from a “hold” rating to a “strong sell” rating in a research report on Friday, May 22nd. Weiss Ratings cut shares of BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 4th. Finally, HC Wainwright decreased their price target on shares of BitFuFu from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, March 23rd.

Institutional Trading of BitFuFu

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its holdings in BitFuFu by 25.4% in the 2nd quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock worth $51,000 after buying an additional 3,192 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in 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 buying an additional 10,700 shares in the last quarter. Engineers Gate Manager LP acquired a new position in BitFuFu in the 2nd quarter worth $36,000. Boothbay Fund Management LLC acquired a new position in BitFuFu in the 4th quarter worth $31,000. Finally, Prelude Capital Management LLC acquired a new position in BitFuFu in the 3rd quarter worth $48,000. 37.26% of the stock is owned by hedge funds and other institutional investors.

BitFuFu Stock Up 13.7%

Shares of NASDAQ FUFU opened at $1.83 on Tuesday. BitFuFu has a 52-week low of $1.56 and a 52-week high of $5.38. The firm has a fifty day moving average of $2.05 and a 200-day moving average of $2.43. The stock has a market capitalization of $304.90 million, a PE ratio of -4.16 and a beta of 0.42. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.81.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings data on Saturday, March 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.18). BitFuFu had a negative net margin of 16.06% and a negative return on equity of 3.81%. The company had revenue of $103.42 million for the quarter, compared to analysts’ expectations of $105.15 million. On average, analysts anticipate that BitFuFu will post 0.11 EPS for the current year.

BitFuFu Company Profile

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.