BitFuFu (NASDAQ:FUFU) Price Target Lowered to $4.00 at HC Wainwright

Key Points

• HC Wainwright cut its price target on BitFuFu to $4.00 from $7.00 but kept a "buy" rating, implying roughly a 140% upside from the current share price.
• BitFuFu reported a weak quarter, missing EPS estimates with ($0.20) versus ($0.02) expected and posting $91.8M in revenue vs. $105.15M forecast, alongside negative net margin and return on equity.
• Analyst coverage is mixed (three Buy, two Hold, one Sell) with a MarketBeat consensus rating of Hold and a consensus price target of $5.38; the stock is trading near its 12‑month low and has a market cap of about $277M.

BitFuFu (NASDAQ:FUFU - Get Free Report) had its price objective reduced by equities research analysts at HC Wainwright from $7.00 to $4.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price indicates a potential upside of 140.24% from the company's current price.

Other equities analysts have also issued reports about the stock. Zacks Research lowered shares of BitFuFu from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 9th. Weiss Ratings restated 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, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BitFuFu has an average rating of "Hold" and a consensus price target of $5.38.

BitFuFu Stock Performance

Shares of NASDAQ:FUFU opened at $1.67 on Monday. BitFuFu has a twelve month low of $1.56 and a twelve month high of $5.85. The firm has a market cap of $277.19 million, a PE ratio of -4.90 and a beta of 0.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.58 and a current ratio of 2.58. The business has a fifty day moving average of $2.64 and a 200-day moving average of $3.06.

BitFuFu (NASDAQ:FUFU - Get Free Report) last issued its quarterly earnings results on Friday, March 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.18). BitFuFu had a negative return on equity of 12.60% and a negative net margin of 12.06%.The company had revenue of $91.80 million for the quarter, compared to analyst estimates of $105.15 million. On average, equities research analysts predict that BitFuFu will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of BitFuFu by 51.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 247,703 shares of the company's stock worth $929,000 after buying an additional 83,984 shares during the period. Vident Advisory LLC lifted its holdings in BitFuFu by 24.3% in the second quarter. Vident Advisory LLC now owns 245,497 shares of the company's stock valued at $793,000 after buying an additional 47,987 shares during the period. Vontobel Holding Ltd. boosted its stake in BitFuFu by 12.6% in the fourth quarter. Vontobel Holding Ltd. now owns 156,986 shares of the company's stock valued at $413,000 after acquiring an additional 17,605 shares during the last quarter. Harvest Portfolios Group Inc. boosted its stake in BitFuFu by 153.9% in the third quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company's stock valued at $420,000 after acquiring an additional 67,882 shares during the last quarter. Finally, Invesco Ltd. acquired a new stake in BitFuFu during the 2nd quarter worth $321,000. 37.26% of the stock is currently owned by institutional investors and hedge funds.

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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