BitFuFu (NASDAQ:FUFU) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of BitFuFu (NASDAQ:FUFU) in a report published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $7.00 price target on the stock.

BitFuFu Stock Performance

Shares of NASDAQ:FUFU opened at $4.86 on Wednesday. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.87. The stock has a fifty day simple moving average of $4.45 and a two-hundred day simple moving average of $4.19. BitFuFu has a 12-month low of $2.32 and a 12-month high of $18.32.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $129.42 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BitFuFu stock. MMCAP International Inc. SPC acquired a new position in BitFuFu Inc. (NASDAQ:FUFU) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,500 shares of the company’s stock, valued at approximately $82,000. MMCAP International Inc. SPC owned about 0.38% of BitFuFu as of its most recent SEC filing. Institutional investors own 37.26% of the company’s stock.

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.