BitFuFu Inc. (NASDAQ:FUFU) Given Average 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 recommendation of "Moderate Buy" by the five analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.4525.

A number of research firms recently issued reports on FUFU. Northland Capmk raised shares of BitFuFu to a "hold" rating in a report on Wednesday, June 18th. Northland Securities began coverage on shares of BitFuFu in a report on Wednesday, June 18th. They issued a "market perform" rating and a $5.50 price objective on the stock. Wall Street Zen raised shares of BitFuFu from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Roth Capital began coverage on shares of BitFuFu in a report on Wednesday. They set a "buy" rating and a $6.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $7.00 target price on shares of BitFuFu in a report on Friday, June 6th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wedbush Securities Inc. purchased a new stake in BitFuFu in the first quarter worth about $50,000. Vident Advisory LLC purchased a new stake in BitFuFu in the first quarter worth about $905,000. Jane Street Group LLC purchased a new stake in BitFuFu in the first quarter worth about $57,000. Finally, Harvest Portfolios Group Inc. purchased a new stake in BitFuFu in the second quarter worth about $142,000. Institutional investors own 37.26% of the company's stock.

BitFuFu Stock Down 0.7%

Shares of BitFuFu stock opened at $4.00 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.03 and a quick ratio of 3.02. The company has a 50-day moving average of $3.54 and a 200 day moving average of $4.08. The firm has a market cap of $656.60 million, a price-to-earnings ratio of 200.10 and a beta of 0.31. BitFuFu has a 1 year low of $2.91 and a 1 year high of $6.24.

BitFuFu (NASDAQ:FUFU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.14). BitFuFu had a net margin of 0.46% and a return on equity of 1.34%. The firm had revenue of $99.82 million for the quarter, compared to the consensus estimate of $114.03 million. As a group, sell-side analysts anticipate that BitFuFu will post 0.17 earnings per share for the current fiscal year.

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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