BitFuFu (NASDAQ:FUFU) Upgraded at Zacks Research

BitFuFu (NASDAQ:FUFU) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other research firms also recently weighed in on FUFU. HC Wainwright dropped 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. Wall Street Zen downgraded BitFuFu from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of BitFuFu in a research report on Monday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.38.

BitFuFu Stock Performance

NASDAQ FUFU opened at $2.19 on Monday. BitFuFu has a 1-year low of $1.56 and a 1-year high of $5.38. The company has a market capitalization of $364.59 million, a P/E ratio of -6.44 and a beta of 0.42. The business has a 50 day moving average price of $2.24 and a 200 day moving average price of $2.78. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.94 and a quick ratio of 2.93.

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

Hedge Funds Weigh In On BitFuFu

Several hedge funds have recently bought and sold shares of FUFU. Jane Street Group LLC boosted its holdings in shares of BitFuFu by 25.4% during the second quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock worth $51,000 after purchasing an additional 3,192 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of BitFuFu by 24.7% during the fourth quarter. Renaissance Technologies LLC now owns 54,000 shares of the company’s stock worth $143,000 after purchasing an additional 10,700 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of BitFuFu during the second quarter worth $36,000. Boothbay Fund Management LLC acquired a new stake in shares of BitFuFu during the fourth quarter worth $31,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of BitFuFu during the third quarter worth $48,000. Hedge funds and other 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.