BitFuFu (NASDAQ:FUFU) Earns Buy Rating from Analysts at B. Riley

B. Riley initiated coverage on shares of BitFuFu (NASDAQ:FUFU - Free Report) in a report issued on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $7.31 target price on the stock.

FUFU has been the topic of several other research reports. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price objective on shares of BitFuFu in a research report on Friday, June 6th. Northland Capmk upgraded shares of BitFuFu to a "hold" rating in a research note on Wednesday, June 18th. Wall Street Zen downgraded shares of BitFuFu from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Finally, Northland Securities began coverage on shares of BitFuFu in a research report on Wednesday, June 18th. They set a "market perform" rating and a $5.50 price target on the stock. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.60.

BitFuFu Trading Up 10.6%

FUFU stock traded up $0.41 on Friday, hitting $4.29. 568,460 shares of the company were exchanged, compared to its average volume of 207,510. The stock has a market capitalization of $699.73 million, a price-to-earnings ratio of 214.61 and a beta of 0.30. The business's fifty day moving average is $3.51 and its two-hundred day moving average is $4.26. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.03 and a quick ratio of 3.02. BitFuFu has a twelve month low of $2.91 and a twelve month high of $6.33.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vident Advisory LLC acquired a new stake in shares of BitFuFu during the first quarter valued at about $905,000. WINTON GROUP Ltd bought a new stake in BitFuFu during the fourth quarter worth $83,000. OLD Mission Capital LLC bought a new position in BitFuFu in the 4th quarter valued at $67,000. Jane Street Group LLC purchased a new position in shares of BitFuFu during the 1st quarter valued at $57,000. Finally, Wedbush Securities Inc. purchased a new stake in BitFuFu during the 1st quarter worth about $50,000. 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.