BitFuFu Inc. (NASDAQ:FUFU) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• BitFuFu Inc. (NASDAQ:FUFU) has received an average recommendation of "Moderate Buy" from six research firms, with an average price target of $6.4525.
• In its latest quarterly results, BitFuFu reported earnings of $0.09 per share, exceeding analysts' expectations, with total revenue of $115.40 million.
• The company's shares opened at $3.56 and have a market cap of approximately $584.37 million, reflecting a 5.1% decline in trading.

Shares of BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) have been given an average rating of "Moderate Buy" by the six research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.4525.

A number of equities analysts have recently weighed in on FUFU shares. B. Riley assumed coverage on shares of BitFuFu in a research report on Friday, July 18th. They set a "buy" rating and a $7.31 price target on the stock. HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of BitFuFu in a report on Tuesday, August 19th. Northland Capmk upgraded shares of BitFuFu to a "hold" rating in a report on Wednesday, June 18th. Roth Capital assumed coverage on shares of BitFuFu in a report on Wednesday, August 13th. They set a "buy" rating and a $6.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of BitFuFu from a "sell" rating to a "hold" rating in a report on Friday, July 18th.

Institutional Investors Weigh In On BitFuFu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its stake in BitFuFu by 25.4% in the 2nd 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. Wedbush Securities Inc. acquired a new stake in BitFuFu in the 1st quarter valued at $50,000. Engineers Gate Manager LP acquired a new stake in BitFuFu in the 2nd quarter valued at $36,000. Harvest Portfolios Group Inc. acquired a new stake in BitFuFu in the 2nd quarter valued at $142,000. Finally, Vident Advisory LLC increased its stake in BitFuFu by 24.3% in the 2nd quarter. Vident Advisory LLC now owns 245,497 shares of the company's stock valued at $793,000 after buying an additional 47,987 shares during the last quarter. 37.26% of the stock is currently owned by institutional investors and hedge funds.

BitFuFu Trading Down 5.1%

Shares of NASDAQ FUFU opened at $3.56 on Thursday. The company's fifty day moving average is $3.77 and its 200-day moving average is $3.81. The stock has a market cap of $584.37 million, a price-to-earnings ratio of 12.28 and a beta of 0.32. BitFuFu has a twelve month low of $2.91 and a twelve month high of $6.24. The company has a quick ratio of 2.96, a current ratio of 2.97 and a debt-to-equity ratio of 0.70.

BitFuFu (NASDAQ:FUFU - Get Free Report) last announced its quarterly earnings results on Friday, August 15th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. The company had revenue of $115.40 million for the quarter, compared to analysts' expectations of $101.60 million. BitFuFu had a net margin of 12.44% and a return on equity of 10.33%. During the same period last year, the firm posted ($0.01) earnings per share. Equities research analysts predict that BitFuFu will post 0.17 EPS for the current year.

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.

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