Brokerages Set BitFuFu Inc. (NASDAQ:FUFU) PT at $5.38

BitFuFu Inc. (NASDAQ:FUFU) has received an average recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.3750.

Several research firms have commented on FUFU. Wall Street Zen downgraded BitFuFu from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BitFuFu in a research note on Monday. Zacks Research raised BitFuFu from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, HC Wainwright reduced their price objective on BitFuFu from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Monday, March 23rd.

BitFuFu Stock Up 0.9%

FUFU opened at $2.21 on Monday. The business has a 50 day moving average price of $2.23 and a two-hundred day moving average price of $2.78. The company has a quick ratio of 2.93, a current ratio of 2.94 and a debt-to-equity ratio of 0.77. The company has a market cap of $367.92 million, a PE ratio of -6.50 and a beta of 0.42. BitFuFu has a 52 week low of $1.56 and a 52 week high of $5.38.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings data on Friday, March 20th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.18). The company had revenue of $91.80 million for the quarter, compared to analysts’ expectations of $105.15 million. BitFuFu had a negative net margin of 12.06% and a negative return on equity of 13.82%. As a group, research analysts anticipate that BitFuFu will post 0.06 EPS for the current year.

Hedge Funds Weigh In On BitFuFu

Large investors have recently modified their holdings of the business. Boothbay Fund Management LLC purchased a new position in shares of BitFuFu during the 4th quarter worth approximately $31,000. Engineers Gate Manager LP purchased a new position in shares of BitFuFu during the 2nd quarter worth approximately $36,000. Squarepoint Ops LLC purchased a new position in shares of BitFuFu during the 3rd quarter worth approximately $48,000. Prelude Capital Management LLC purchased a new position in shares of BitFuFu during the 3rd quarter worth approximately $48,000. Finally, Jane Street Group LLC raised its stake in shares of BitFuFu by 25.4% during 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. 37.26% of the stock is owned by hedge funds and other institutional investors.

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.