BitFuFu (NASDAQ:FUFU) Raised to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of BitFuFu (NASDAQ:FUFU - Free Report) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

FUFU has been the subject of a number of other reports. HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of BitFuFu in a report on Friday, June 6th. Northland Capmk raised shares of BitFuFu to a "hold" rating in a research report on Wednesday, June 18th. B. Riley initiated coverage on BitFuFu in a research note on Friday. They issued a "buy" rating and a $7.31 target price for the company. Finally, Northland Securities began coverage on shares of BitFuFu in a report on Wednesday, June 18th. They issued a "market perform" rating and a $5.50 price objective on the stock. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BitFuFu currently has a consensus rating of "Moderate Buy" and an average target price of $6.60.

BitFuFu Stock Performance

Shares of BitFuFu stock traded up $0.41 during trading hours on Friday, hitting $4.29. 568,460 shares of the company were exchanged, compared to its average volume of 207,510. 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 business has a 50-day moving average of $3.51 and a 200-day moving average of $4.27. BitFuFu has a 1 year low of $2.91 and a 1 year high of $6.33. The stock has a market capitalization of $699.74 million, a price-to-earnings ratio of 214.50 and a beta of 0.30.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Prospect Financial Group LLC acquired a new position in shares of BitFuFu in the 4th quarter valued at $50,000. Wedbush Securities Inc. acquired a new stake in shares of BitFuFu in the 1st quarter valued at $50,000. Jane Street Group LLC bought a new stake in shares of BitFuFu during the 1st quarter worth about $57,000. OLD Mission Capital LLC acquired a new position in BitFuFu during the fourth quarter valued at approximately $67,000. Finally, WINTON GROUP Ltd acquired a new position in BitFuFu in the 4th quarter valued at $83,000. Institutional investors own 37.26% of the company's stock.

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.