BitFuFu Inc. (NASDAQ:FUFU) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• BitFuFu Inc. has received a consensus recommendation of "Moderate Buy" from five analysts, with an average twelve-month price target of $6.4525.
• Institutional investors now own 37.26% of BitFuFu's stock, indicating increased interest, with recent significant stakes acquired by firms such as Vident Advisory and Wedbush Securities.
• The company's stock has shown volatility, currently trading at $4.00 with a loss of 0.7%, and reported a revenue of $99.82 million for the last quarter, which was below analyst estimates.

Shares of BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $6.4525.

FUFU has been the subject of several analyst reports. Roth Capital initiated coverage on shares of BitFuFu in a report on Wednesday, August 13th. They issued a "buy" rating and a $6.00 target price for the company. Northland Capmk raised shares of BitFuFu to a "hold" rating in a research report on Wednesday, June 18th. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price objective on shares of BitFuFu in a research report on Friday, June 6th. Northland Securities started coverage on shares of BitFuFu in a research report on Wednesday, June 18th. They issued a "market perform" rating and a $5.50 price objective for the company. Finally, B. Riley started coverage on shares of BitFuFu in a research report on Friday, July 18th. They issued a "buy" rating and a $7.31 price objective for the company.

BitFuFu Stock Down 8.0%

FUFU stock traded down $0.30 during midday trading on Wednesday, reaching $3.47. 910,405 shares of the company's stock traded hands, compared to its average volume of 342,222. The company has a market cap of $569.60 million, a price-to-earnings ratio of 11.97 and a beta of 0.31. The firm's fifty day moving average price is $3.56 and its 200-day moving average price is $4.04. The company has a quick ratio of 3.02, a current ratio of 3.03 and a debt-to-equity ratio of 0.94. BitFuFu has a 52 week low of $2.91 and a 52 week high of $6.24.

BitFuFu (NASDAQ:FUFU - Get Free Report) last announced its quarterly earnings results on Friday, August 15th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. The business had revenue of $115.40 million during the quarter, compared to analyst estimates of $101.60 million. BitFuFu had a net margin of 12.44% and a return on equity of 11.39%. During the same quarter in the previous year, the business posted ($0.01) EPS. As a group, sell-side analysts forecast that BitFuFu will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BitFuFu

Institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP bought a new position in BitFuFu during the second quarter valued at about $36,000. Wedbush Securities Inc. bought a new position in BitFuFu during the first quarter valued at about $50,000. Jane Street Group LLC grew its position in 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 period. Harvest Portfolios Group Inc. bought a new position in BitFuFu during the second quarter valued at about $142,000. Finally, Invesco Ltd. bought a new position in BitFuFu during the second quarter valued at about $321,000. Institutional investors own 37.26% of the company's stock.

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.