BitFuFu Inc. (NASDAQ:FUFU) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• BitFuFu Inc. has received a consensus rating of "Moderate Buy" from six brokerages, with three analysts rating it as a hold and three as a buy.
• The stock's average 12-month price target among analysts is $6.45, with B. Riley setting a specific price target of $7.31.
• BitFuFu reported earnings of $0.09 per share for the last quarter, surpassing estimates, with revenue of $115.4 million compared to expected revenue of $101.6 million.

BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.4525.

FUFU has been the topic of several research analyst reports. B. Riley initiated coverage on BitFuFu in a research note on Friday, July 18th. They set a "buy" rating and a $7.31 price target on the stock. Zacks Research upgraded BitFuFu from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Northland Capmk upgraded BitFuFu to a "hold" rating in a research note on Wednesday, June 18th. Northland Securities initiated coverage on BitFuFu in a research note on Wednesday, June 18th. They set a "market perform" rating and a $5.50 price target on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of BitFuFu in a research note on Tuesday, August 19th.

BitFuFu Trading Down 2.5%

FUFU opened at $3.56 on Friday. The firm has a market cap of $584.38 million, a price-to-earnings ratio of 12.28 and a beta of 0.32. The company has a current ratio of 2.97, a quick ratio of 2.96 and a debt-to-equity ratio of 0.70. BitFuFu has a 12 month low of $2.91 and a 12 month high of $6.24. The stock has a fifty day moving average price of $3.71 and a 200-day moving average price of $3.92.

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

Institutional Trading of BitFuFu

A number of hedge funds have recently modified their holdings of the stock. Jane Street Group LLC boosted 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 worth $51,000 after purchasing an additional 3,192 shares in the last quarter. Wedbush Securities Inc. purchased a new position in BitFuFu during the first quarter worth approximately $50,000. Engineers Gate Manager LP purchased a new position in BitFuFu during the second quarter worth approximately $36,000. Harvest Portfolios Group Inc. purchased a new position in BitFuFu during the second quarter worth approximately $142,000. Finally, Vident Advisory LLC boosted its position in BitFuFu by 24.3% during the second quarter. Vident Advisory LLC now owns 245,497 shares of the company's stock worth $793,000 after purchasing an additional 47,987 shares in the last quarter. 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.

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