BitFuFu (NASDAQ:FUFU) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded BitFuFu from a "sell" to a "hold" and Zacks also moved the stock to "hold," leaving a market consensus rating of Hold with a $5.38 average price target (three Buys, two Holds, one Sell).
• BitFuFu reported quarterly EPS of ($0.20), missing estimates by $0.18 and posting revenue of $91.8M versus a $105.15M estimate, while showing negative ROE and net margin; analysts still forecast 0.06 EPS for the year.
• The company has a market cap of $366.3M, a 12‑month trading range of $1.56–$5.38, and institutional investors own about 37.26% of the stock after several firms recently established or increased positions.

BitFuFu (NASDAQ:FUFU - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

A number of other equities research analysts also recently weighed in on the stock. Zacks Research raised shares of BitFuFu from a "strong sell" rating to a "hold" rating in a research note on Monday, April 20th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of BitFuFu in a research note on Monday, April 20th. Finally, HC Wainwright lowered their target price on shares of BitFuFu from $7.00 to $4.00 and set a "buy" rating for the company in a report on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $5.38.

BitFuFu Price Performance

BitFuFu stock opened at $2.20 on Friday. The business's 50-day simple moving average is $2.20 and its 200 day simple moving average is $2.71. The company has a quick ratio of 2.93, a current ratio of 2.94 and a debt-to-equity ratio of 0.77. The stock has a market cap of $366.26 million, a price-to-earnings ratio of -6.47 and a beta of 0.46. BitFuFu has a 12-month low of $1.56 and a 12-month high of $5.38.

BitFuFu (NASDAQ:FUFU - Get Free Report) last announced its quarterly earnings data on Friday, March 20th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.18). The firm had revenue of $91.80 million for the quarter, compared to the consensus estimate of $105.15 million. BitFuFu had a negative return on equity of 13.82% and a negative net margin of 12.06%. As a group, research analysts anticipate that BitFuFu will post 0.06 earnings per share for the current year.

Institutional Trading of BitFuFu

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in BitFuFu during the second quarter valued at approximately $529,000. Invesco Ltd. acquired a new stake in BitFuFu in the second quarter worth $321,000. Harvest Portfolios Group Inc. raised its holdings in BitFuFu by 153.9% in the third quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company's stock worth $420,000 after purchasing an additional 67,882 shares during the period. Vident Advisory LLC boosted its position in shares of BitFuFu by 24.3% during the second quarter. Vident Advisory LLC now owns 245,497 shares of the company's stock worth $793,000 after purchasing an additional 47,987 shares in the last quarter. Finally, RPO LLC acquired a new position in shares of BitFuFu in the 4th quarter valued at $61,000. 37.26% of the stock is 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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