BitFuFu Inc. (NASDAQ:FUFU) Receives Consensus Recommendation of “Hold” from Analysts

BitFuFu Inc. (NASDAQ:FUFU) has received an average rating of “Hold” from the five ratings firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.3333.

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

BitFuFu Stock Performance

FUFU opened at $1.40 on Friday. The firm has a market cap of $233.25 million, a P/E ratio of -3.18 and a beta of 0.46. BitFuFu has a 52-week low of $1.31 and a 52-week high of $5.38. 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 business’s fifty day moving average is $1.84 and its 200-day moving average is $2.26.

BitFuFu declared that its board has initiated a share buyback program on Monday, June 22nd that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of BitFuFu

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP acquired a new stake in shares of BitFuFu during the 2nd quarter valued at $36,000. Boothbay Fund Management LLC bought a new position in BitFuFu in the 4th quarter valued at approximately $31,000. Jane Street Group LLC bought a new position in BitFuFu in the 1st quarter valued at approximately $57,000. Prelude Capital Management LLC acquired a new stake in BitFuFu during the 3rd quarter worth approximately $48,000. Finally, Squarepoint Ops LLC bought a new stake in BitFuFu during the 3rd quarter worth approximately $48,000. 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.