BitFuFu Inc. (NASDAQ:FUFU - Get Free Report)'s stock price was up 9.3% during mid-day trading on Thursday . The company traded as high as $3.93 and last traded at $3.89. Approximately 232,007 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 331,929 shares. The stock had previously closed at $3.56.
Wall Street Analysts Forecast Growth
FUFU has been the subject of several recent research reports. Zacks Research raised BitFuFu from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 11th. Roth Capital initiated coverage on BitFuFu in a research report on Wednesday, August 13th. They set a "buy" rating and a $6.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price objective on shares of BitFuFu in a research report on Tuesday, August 19th. Wall Street Zen raised BitFuFu from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Northland Capmk raised BitFuFu to a "hold" rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $6.45.
Read Our Latest Report on BitFuFu
BitFuFu Stock Up 9.8%
The company has a quick ratio of 2.96, a current ratio of 2.97 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $3.77 and a 200-day simple moving average of $3.81. The stock has a market cap of $641.83 million, a P/E ratio of 13.48 and a beta of 0.32.
BitFuFu (NASDAQ:FUFU - Get Free Report) last released its quarterly earnings data on Friday, August 15th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $115.40 million for the quarter, compared to analyst estimates of $101.60 million. BitFuFu had a return on equity of 10.33% and a net margin of 12.44%.During the same quarter in the prior year, the company earned ($0.01) earnings per share. On average, equities research analysts forecast that BitFuFu Inc. will post 0.17 earnings per share for the current fiscal year.
Institutional Trading of BitFuFu
Several institutional investors and hedge funds have recently bought and sold shares of the business. Vident Advisory LLC bought a new position in shares of BitFuFu during the first quarter worth approximately $905,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of BitFuFu during the second quarter worth approximately $529,000. Invesco Ltd. bought a new position in shares of BitFuFu during the second quarter worth approximately $321,000. Harvest Portfolios Group Inc. bought a new position in shares of BitFuFu during the second quarter worth approximately $142,000. Finally, Jane Street Group LLC bought a new position in shares of BitFuFu during the first quarter worth approximately $57,000. Institutional investors own 37.26% of the company's stock.
BitFuFu Company Profile
(
Get Free Report)
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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