BitFuFu’s (FUFU) “Buy” Rating Reiterated at HC Wainwright

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $7.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 130.26% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Roth Capital began coverage on shares of BitFuFu in a report on Wednesday, August 13th. They set a “buy” rating and a $6.00 price target on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of BitFuFu in a research note on Wednesday, October 8th. B. Riley assumed coverage on shares of BitFuFu in a report on Friday, July 18th. They set a “buy” rating and a $7.31 price target for the company. Zacks Research raised BitFuFu from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Wall Street Zen upgraded BitFuFu from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.45.

BitFuFu Stock Up 4.1%

Shares of NASDAQ:FUFU traded up $0.12 during trading on Thursday, hitting $3.04. 119,749 shares of the company were exchanged, compared to its average volume of 333,204. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.97 and a quick ratio of 2.96. BitFuFu has a 12-month low of $2.86 and a 12-month high of $6.24. The firm’s 50 day moving average price is $3.65 and its 200-day moving average price is $3.62. The stock has a market capitalization of $499.02 million, a P/E ratio of 10.45 and a beta of 0.31.

BitFuFu (NASDAQ:FUFU) last announced its earnings results on Wednesday, November 12th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. BitFuFu had a net margin of 12.44% and a return on equity of 10.33%. The company had revenue of $180.67 million during the quarter, compared to analysts’ expectations of $130.17 million. On average, research analysts predict that BitFuFu will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BitFuFu

Several large investors have recently added to or reduced their stakes in the company. Vident Advisory LLC increased its stake in BitFuFu by 24.3% in the second quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock valued at $793,000 after acquiring an additional 47,987 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in BitFuFu during the second quarter valued at $529,000. Vontobel Holding Ltd. bought a new position in shares of BitFuFu during the 3rd quarter valued at approximately $521,000. Harvest Portfolios Group Inc. increased its stake in BitFuFu by 153.9% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company’s stock worth $420,000 after buying an additional 67,882 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in BitFuFu during the 2nd quarter valued at approximately $321,000. 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.