BitFuFu (NASDAQ:FUFU) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded BitFuFu (NASDAQ:FUFU) from a "hold" to a "sell"; other firms are mixed-to-bearish (Zacks "strong sell", Weiss "sell (d+)") while HC Wainwright cut its price target to $4.00 but kept a "buy," leaving a MarketBeat consensus of "Hold" with an average target of $5.38.
• Missed quarter: BitFuFu reported EPS of ($0.20) versus ($0.02) expected and revenue of $91.8M versus $105.15M expected, with negative net margin (12.06%) and negative return on equity, signaling operational weakness.
• Shares opened at $1.89 (1‑year range $1.56–$5.38) with a market cap of about $315M and roughly 37% institutional ownership, trading well below analyst targets.

BitFuFu (NASDAQ:FUFU - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Other equities research analysts have also issued reports about the company. HC Wainwright reduced their price target on BitFuFu from $7.00 to $4.00 and set a "buy" rating for the company in a report on Monday, March 23rd. Zacks Research downgraded BitFuFu from a "hold" rating to a "strong sell" rating in a report on Friday, March 20th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of BitFuFu in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $5.38.

BitFuFu Trading Down 0.5%

NASDAQ FUFU opened at $1.89 on Friday. The company has a current ratio of 2.94, a quick ratio of 2.58 and a debt-to-equity ratio of 0.77. BitFuFu has a 1-year low of $1.56 and a 1-year high of $5.38. The firm's fifty day simple moving average is $2.51 and its 200-day simple moving average is $3.01. The company has a market capitalization of $314.65 million, a PE ratio of -5.56 and a beta of 0.35.

BitFuFu (NASDAQ:FUFU - Get Free Report) last released its quarterly earnings data on Friday, March 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.18). BitFuFu had a negative net margin of 12.06% and a negative return on equity of 13.82%. The firm had revenue of $91.80 million for the quarter, compared to analyst estimates of $105.15 million. As a group, sell-side analysts anticipate that BitFuFu will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BitFuFu

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC lifted its position 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 worth $51,000 after buying an additional 3,192 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of BitFuFu by 24.7% during the 4th quarter. Renaissance Technologies LLC now owns 54,000 shares of the company's stock valued at $143,000 after acquiring an additional 10,700 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of BitFuFu in the 2nd quarter valued at approximately $36,000. Boothbay Fund Management LLC bought a new position in shares of BitFuFu in the 4th quarter valued at approximately $31,000. Finally, Prelude Capital Management LLC acquired a new stake in BitFuFu in the 3rd quarter worth approximately $48,000. 37.26% of the stock is currently owned by institutional investors.

About BitFuFu

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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