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

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

A number of equities research analysts have issued reports on FUFU shares. Wall Street Zen lowered shares of BitFuFu from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Zacks Research lowered shares of BitFuFu from a “hold” rating to a “strong sell” rating in a report on Friday, May 22nd. Weiss Ratings lowered shares of BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. Finally, HC Wainwright reduced their target price 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.

Institutional Investors Weigh In On BitFuFu

A number of hedge funds have recently added to or reduced their stakes in FUFU. Jane Street Group LLC acquired a new stake in BitFuFu during the 1st quarter worth approximately $57,000. Invesco Ltd. acquired a new stake in BitFuFu during the 2nd quarter worth approximately $321,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in BitFuFu during the 2nd quarter worth approximately $529,000. Engineers Gate Manager LP acquired a new stake in BitFuFu during the 2nd quarter worth approximately $36,000. Finally, Vident Advisory LLC lifted its holdings in BitFuFu by 24.3% during the 2nd quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock worth $793,000 after buying an additional 47,987 shares in the last quarter. 37.26% of the stock is currently owned by institutional investors and hedge funds.

BitFuFu Stock Performance

NASDAQ:FUFU opened at $1.83 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.16 and a current ratio of 4.16. The stock has a market capitalization of $304.90 million, a P/E ratio of -4.16 and a beta of 0.42. The company has a 50 day moving average price of $2.05 and a 200 day moving average price of $2.43. BitFuFu has a fifty-two week low of $1.56 and a fifty-two week high of $5.38.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings data on Saturday, March 21st. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The company had revenue of $103.42 million for the quarter, compared to analysts’ expectations of $105.15 million. BitFuFu had a negative return on equity of 3.81% and a negative net margin of 16.06%. Equities research analysts forecast 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.