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

BitFuFu Inc. (NASDAQ:FUFU) has received a consensus rating of “Hold” from the six analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $5.3750.

FUFU has been the topic of a number of research analyst reports. HC Wainwright cut their target price on BitFuFu from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Zacks Research cut BitFuFu from a “hold” rating to a “strong sell” rating in a research report on Friday, May 22nd. Wall Street Zen cut BitFuFu from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings cut BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 4th.

Institutional Trading of BitFuFu

Hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP acquired a new stake in shares of BitFuFu during the second quarter worth about $36,000. Boothbay Fund Management LLC acquired a new stake in shares of BitFuFu during the fourth quarter worth about $31,000. Jane Street Group LLC acquired a new stake in shares of BitFuFu during the first quarter worth about $57,000. Prelude Capital Management LLC acquired a new stake in shares of BitFuFu during the third quarter worth about $48,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of BitFuFu during the third quarter worth about $48,000. Institutional investors and hedge funds own 37.26% of the company’s stock.

BitFuFu Stock Down 3.0%

BitFuFu stock opened at $1.61 on Tuesday. BitFuFu has a 1-year low of $1.56 and a 1-year high of $5.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.16 and a quick ratio of 4.16. The stock has a market cap of $268.24 million, a PE ratio of -3.66 and a beta of 0.42. The stock’s fifty day moving average is $2.04 and its two-hundred day moving average is $2.44.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings results 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). BitFuFu had a negative net margin of 16.06% and a negative return on equity of 3.81%. The business had revenue of $103.42 million during the quarter, compared to analyst estimates of $105.15 million. On average, sell-side analysts expect that BitFuFu will post 0.11 EPS for the current fiscal year.

About BitFuFu

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.