Northland Securities Begins Coverage on BitFuFu (NASDAQ:FUFU)

Investment analysts at Northland Securities initiated coverage on shares of BitFuFu (NASDAQ:FUFU - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage set a "market perform" rating and a $5.50 price target on the stock. Northland Securities' price objective suggests a potential upside of 79.15% from the company's previous close.

Separately, HC Wainwright reiterated a "buy" rating and set a $7.00 price objective on shares of BitFuFu in a research note on Friday, June 6th.

BitFuFu Price Performance

FUFU traded down $0.11 during midday trading on Wednesday, hitting $3.07. 1,350,568 shares of the company traded hands, compared to its average volume of 216,637. BitFuFu has a 52-week low of $2.91 and a 52-week high of $7.39. The business has a 50 day simple moving average of $3.66 and a two-hundred day simple moving average of $4.52. The company has a current ratio of 3.03, a quick ratio of 3.02 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $500.75 million, a price-to-earnings ratio of 153.58 and a beta of 0.33.

BitFuFu (NASDAQ:FUFU - Get Free Report) last posted 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). BitFuFu had a return on equity of 1.34% and a net margin of 0.46%. The firm had revenue of $99.82 million for the quarter, compared to analysts' expectations of $114.03 million. On average, equities analysts forecast that BitFuFu will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BitFuFu

Large investors have recently made changes to their positions in the stock. Prospect Financial Group LLC purchased a new stake in shares of BitFuFu in the fourth quarter valued at approximately $50,000. OLD Mission Capital LLC purchased a new stake in shares of BitFuFu in the fourth quarter valued at approximately $67,000. WINTON GROUP Ltd purchased a new stake in shares of BitFuFu in the fourth quarter valued at approximately $83,000. Jane Street Group LLC purchased a new stake in shares of BitFuFu in the first quarter valued at approximately $57,000. Finally, Vident Advisory LLC acquired a new position in BitFuFu in the first quarter valued at approximately $905,000. 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.