BitFuFu Inc. (NASDAQ:FUFU) Receives $6.13 Consensus Price Target from Brokerages

Shares of BitFuFu Inc. (NASDAQ:FUFU) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.1250.

A number of equities research analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of BitFuFu in a report on Thursday, November 13th. B. Riley Financial lowered their price target on BitFuFu from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, January 21st. Finally, Zacks Research downgraded shares of BitFuFu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th.

BitFuFu Stock Up 6.0%

Shares of NASDAQ:FUFU opened at $2.66 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $2.88 and a two-hundred day simple moving average of $3.34. BitFuFu has a 12-month low of $2.38 and a 12-month high of $5.85. The stock has a market capitalization of $442.84 million, a price-to-earnings ratio of 6.82 and a beta of 0.33.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $180.67 million during the quarter, compared to analyst estimates of $130.17 million. BitFuFu had a net margin of 13.57% and a return on equity of 16.60%. On average, research analysts anticipate that BitFuFu will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BitFuFu

Several large investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new position in BitFuFu in the second quarter worth $36,000. Jane Street Group LLC acquired a new position in BitFuFu during the 1st quarter valued at about $57,000. Prelude Capital Management LLC purchased a new stake in BitFuFu in the third quarter valued at about $48,000. Squarepoint Ops LLC acquired a new stake in BitFuFu in the third quarter worth about $48,000. Finally, Harvest Portfolios Group Inc. purchased a new stake in shares of BitFuFu during the second quarter worth about $142,000. 37.26% of the stock is owned by 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.