BitFuFu (NASDAQ:FUFU) Upgraded at JonesTrading

JonesTrading upgraded shares of BitFuFu (NASDAQ:FUFU) to a strong-buy rating in a report issued on Sunday morning,Zacks reports.

Several other brokerages also recently commented on FUFU. Zacks Research raised shares of BitFuFu from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Weiss Ratings downgraded shares of BitFuFu from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, September 16th. Finally, Wall Street Zen lowered shares of BitFuFu from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, BitFuFu currently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

BitFuFu Trading Up 2.2%

NASDAQ FUFU opened at $1.40 on Friday. BitFuFu has a one year low of $1.18 and a one year high of $4.06. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.22 and a quick ratio of 4.22. The firm has a market cap of $233.26 million, a P/E ratio of -1.67 and a beta of 0.45. The stock’s 50-day moving average is $1.35 and its 200-day moving average is $1.70.

BitFuFu (NASDAQ:FUFU) last announced its earnings results on Monday, August 17th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). BitFuFu had a negative net margin of 36.00% and a negative return on equity of 18.05%. The business had revenue of $42.76 million for the quarter, compared to the consensus estimate of $75.02 million.

BitFuFu declared that its Board of Directors has initiated a share repurchase plan on Monday, June 22nd that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

BitFuFu Company Profile

BitFuFu Limited is a digital asset mining services company that focuses primarily on Bitcoin mining and related infrastructure. The company provides cloud-mining services that allow customers to purchase or manage Bitcoin mining capacity without owning and operating mining equipment directly.

Its offerings also include Bitcoin self-mining, mining-farm hosting, hash-rate management and mining hardware sales. Through these services, BitFuFu supports individual and institutional customers with access to mining equipment, computing power and related operational capabilities.