BitFuFu Inc. (NASDAQ:FUFU) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts give BitFuFu a consensus rating of Hold based on six covering firms (2 sell, 1 hold, 3 buy), with an average 12‑month price target of $5.375.
• The company severely missed earnings for the quarter, reporting ($0.20) EPS vs. consensus ($0.02) and revenue of $91.8M vs. an estimated $105.15M, with negative ROE and net margin.
• Shares opened at $2.47 (12‑month range $1.56–$5.38), market cap ~$411M, and about 37.26% of the stock is held by institutional investors.

BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) has earned a consensus rating of "Hold" from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $5.3750.

FUFU has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (d+)" rating on shares of BitFuFu in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of BitFuFu from a "hold" rating to a "sell" rating in a research note on Saturday, March 28th. HC Wainwright decreased their price target on shares of BitFuFu from $7.00 to $4.00 and set a "buy" rating for the company in a research note on Monday, March 23rd. Finally, Zacks Research downgraded shares of BitFuFu from a "hold" rating to a "strong sell" rating in a research note on Friday, March 20th.

BitFuFu Price Performance

Shares of NASDAQ FUFU opened at $2.47 on Monday. BitFuFu has a twelve month low of $1.56 and a twelve month high of $5.38. The firm has a fifty day simple moving average of $2.26 and a 200 day simple moving average of $2.81. The company has a market capitalization of $411.21 million, a PE ratio of -7.26 and a beta of 0.42. The company has a quick ratio of 2.93, a current ratio of 2.94 and a debt-to-equity ratio of 0.77.

BitFuFu (NASDAQ:FUFU - Get Free Report) last announced its earnings results on Friday, March 20th. 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 return on equity of 13.82% and a negative net margin of 12.06%.The firm had revenue of $91.80 million for the quarter, compared to the consensus estimate of $105.15 million. On average, sell-side analysts forecast that BitFuFu will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Jane Street Group LLC grew 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 valued at $51,000 after buying an additional 3,192 shares during the last quarter. Renaissance Technologies LLC grew 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 valued at $143,000 after buying an additional 10,700 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of BitFuFu during the second quarter valued at about $36,000. Boothbay Fund Management LLC acquired a new position in shares of BitFuFu during the fourth quarter valued at about $31,000. Finally, Prelude Capital Management LLC acquired a new position in shares of BitFuFu during the third quarter valued at about $48,000. 37.26% of the stock is currently owned by institutional investors and hedge funds.

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.

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