BitFuFu Inc. (NASDAQ:FUFU) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analyst sentiment is mixed: Five brokerages give BitFuFu an average “Hold” rating, with two sell ratings and three buy ratings. The average 12-month price target is $5.33, versus a recent share price of $1.36.
• Recent financial results disappointed: BitFuFu reported a quarterly loss of $0.21 per share, missing the $0.03 consensus estimate, while revenue of $72.66 million fell short of the $93.35 million forecast.
• Institutional investors own 37.26% of the company: Several funds increased or initiated positions, although the stock remains near its one-year low and has negative profitability metrics.

Shares of BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) have been given an average rating of "Hold" by the five research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $5.3333.

A number of brokerages have weighed in on FUFU. Weiss Ratings lowered BitFuFu from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, May 4th. Zacks Research downgraded BitFuFu from a "hold" rating to a "strong sell" rating in a research note on Friday, May 22nd. Finally, Wall Street Zen cut BitFuFu from a "hold" rating to a "sell" rating in a report on Saturday, June 6th.

Institutional Trading of BitFuFu

Several hedge funds and other institutional investors have recently made changes to their positions in FUFU. Jane Street Group LLC lifted its holdings in shares of BitFuFu by 25.4% in the second quarter. Jane Street Group LLC now owns 15,743 shares of the company's stock valued at $51,000 after purchasing an additional 3,192 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of BitFuFu by 24.7% during the 4th quarter. Renaissance Technologies LLC now owns 54,000 shares of the company's stock worth $143,000 after purchasing an additional 10,700 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of BitFuFu during the 2nd quarter worth approximately $36,000. Boothbay Fund Management LLC purchased a new position in shares of BitFuFu during the 4th quarter worth approximately $31,000. Finally, Prelude Capital Management LLC acquired a new position in shares of BitFuFu during the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 37.26% of the company's stock.

BitFuFu Stock Up 0.7%

Shares of BitFuFu stock opened at $1.36 on Wednesday. BitFuFu has a one year low of $1.28 and a one year high of $5.38. The company has a market cap of $226.59 million, a P/E ratio of -3.09 and a beta of 0.46. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.16 and a current ratio of 4.16. The firm has a fifty day moving average of $1.63 and a two-hundred day moving average of $2.14.

BitFuFu (NASDAQ:FUFU - Get Free Report) last issued its earnings results on Friday, May 29th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.24). BitFuFu had a negative net margin of 16.06% and a negative return on equity of 3.81%. The firm had revenue of $72.66 million during the quarter, compared to analysts' expectations of $93.35 million. On average, analysts forecast that BitFuFu will post -0.03 earnings per share for the current year.

BitFuFu declared that its board has authorized a share buyback program on Monday, June 22nd that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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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