BitFuFu’s (FUFU) Buy Rating Reaffirmed at HC Wainwright

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $7.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 94.44% from the stock’s previous close.

BitFuFu Price Performance

Shares of FUFU opened at $3.60 on Monday. The firm has a market cap of $587.19 million, a price-to-earnings ratio of 10.29 and a beta of 0.31. The stock has a 50 day moving average of $4.25 and a 200-day moving average of $4.85. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88. BitFuFu has a 52 week low of $2.80 and a 52 week high of $7.39.

BitFuFu (NASDAQ:FUFU) last posted its earnings results on Tuesday, March 25th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.17. The firm had revenue of $99.29 million during the quarter, compared to analysts’ expectations of $99.29 million. BitFuFu had a net margin of 8.17% and a return on equity of 40.15%. As a group, analysts forecast that BitFuFu will post 0.17 EPS for the current year.

Institutional Trading of BitFuFu

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC grew its stake in BitFuFu by 14.0% in the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock valued at $65,000 after purchasing an additional 1,984 shares in the last quarter. Prospect Financial Group LLC purchased a new position in BitFuFu in the fourth quarter valued at about $50,000. Wedbush Securities Inc. bought a new stake in BitFuFu in the first quarter worth $50,000. OLD Mission Capital LLC bought a new stake in shares of BitFuFu during the 4th quarter worth about $67,000. Finally, WINTON GROUP Ltd bought a new stake in shares of BitFuFu during the 4th quarter worth about $83,000. 37.26% of the stock is owned by hedge funds and other institutional investors.

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.