BitFuFu (NASDAQ:FUFU) Earns Buy Rating from Analysts at Roth Capital

Key Points

• Analysts at Roth Capital have assigned a "buy" rating to BitFuFu (NASDAQ:FUFU) with a price target of $6.00, indicating a potential upside of 50% from its current price.
• BitFuFu reported a quarterly loss of ($0.10) earnings per share, falling short of analysts' expectations, while revenue reached $99.82 million, below the consensus estimate of $114.03 million.
• Around 37.26% of BitFuFu's stock is held by institutional investors, which includes several new stakes acquired by companies such as Harvest Portfolios Group Inc. and Jane Street Group LLC.

Research analysts at Roth Capital assumed coverage on shares of BitFuFu (NASDAQ:FUFU - Get Free Report) in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $6.00 price target on the stock. Roth Capital's price objective would suggest a potential upside of 50.00% from the stock's current price.

Other analysts also recently issued reports about the company. HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of BitFuFu in a research report on Friday, June 6th. Northland Securities began coverage on BitFuFu in a research report on Wednesday, June 18th. They set a "market perform" rating and a $5.50 target price for the company. Wall Street Zen upgraded BitFuFu from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. B. Riley began coverage on BitFuFu in a research report on Friday, July 18th. They set a "buy" rating and a $7.31 target price for the company. Finally, Northland Capmk upgraded BitFuFu to a "hold" rating in a research report on Wednesday, June 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, BitFuFu has an average rating of "Moderate Buy" and a consensus target price of $6.45.

BitFuFu Trading Down 0.7%

FUFU stock opened at $4.00 on Wednesday. The firm has a fifty day moving average price of $3.54 and a 200 day moving average price of $4.08. BitFuFu has a fifty-two week low of $2.91 and a fifty-two week high of $6.24. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.02 and a current ratio of 3.03. The firm has a market cap of $656.60 million, a PE ratio of 200.10 and a beta of 0.31.

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

Hedge Funds Weigh In On BitFuFu

A number of large investors have recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. bought a new position in BitFuFu in the second quarter worth about $142,000. Jane Street Group LLC purchased a new stake in BitFuFu in the first quarter valued at approximately $57,000. Vident Advisory LLC purchased a new stake in BitFuFu in the first quarter valued at approximately $905,000. Finally, Wedbush Securities Inc. purchased a new stake in BitFuFu in the first quarter valued at approximately $50,000. 37.26% of the stock is currently owned by 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.

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