BitFuFu (NASDAQ:FUFU) Cut to "Sell" at Wall Street Zen

Wall Street Zen cut shares of BitFuFu (NASDAQ:FUFU - Free Report) from a hold rating to a sell rating in a research report released on Friday.

Other research analysts also recently issued reports about the company. Northland Capmk upgraded BitFuFu to a "hold" rating in a report on Wednesday, June 18th. Northland Securities assumed coverage on BitFuFu in a report on Wednesday, June 18th. They issued a "market perform" rating and a $5.50 price target on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $7.00 price target on shares of BitFuFu in a report on Friday, June 6th.

BitFuFu Trading Up 5.2%

FUFU traded up $0.16 during trading on Friday, hitting $3.23. 270,236 shares of the stock were exchanged, compared to its average volume of 209,490. The firm has a 50 day simple moving average of $3.53 and a 200 day simple moving average of $4.42. The firm has a market cap of $526.85 million, a price-to-earnings ratio of 153.25 and a beta of 0.33. BitFuFu has a 1 year low of $2.91 and a 1 year high of $6.33. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.02 and a current ratio of 3.03.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FUFU. Vident Advisory LLC purchased a new position in BitFuFu during the 1st quarter worth $905,000. WINTON GROUP Ltd purchased a new position in BitFuFu during the 4th quarter worth $83,000. OLD Mission Capital LLC purchased a new position in BitFuFu during the 4th quarter worth $67,000. Jane Street Group LLC purchased a new position in BitFuFu during the 1st quarter worth $57,000. Finally, Wedbush Securities Inc. purchased a new position in BitFuFu during the 1st quarter worth $50,000. 37.26% of the stock is currently owned by hedge funds and other institutional investors.

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.