BitFuFu Inc. (NASDAQ:FUFU) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• BitFuFu has a consensus “Moderate Buy” rating from five analysts, with two buys, one strong buy, one hold and one sell. The average 12-month price target is $5.00.
• Shares opened at $1.40, near the lower end of their 52-week range of $1.18 to $4.06, with a market capitalization of approximately $233.3 million.
• The company’s latest quarterly results missed expectations, reporting an adjusted loss of $0.12 per share versus estimates of $0.01 and revenue of $42.76 million compared with the $75.02 million consensus forecast.

BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $5.00.

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of BitFuFu from a "sell (d)" rating to a "sell (d-)" rating in a research note on Wednesday, September 16th. JonesTrading raised BitFuFu to a "strong-buy" rating in a report on Sunday. Wall Street Zen cut BitFuFu from a "hold" rating to a "sell" rating in a research note on Saturday, June 6th. Finally, Zacks Research raised BitFuFu from a "strong sell" rating to a "hold" rating in a report on Friday, July 31st.

BitFuFu Stock Performance

Shares of FUFU opened at $1.40 on Wednesday. The firm has a market cap of $233.26 million, a price-to-earnings ratio of -1.67 and a beta of 0.45. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 1.03. The business's 50 day moving average is $1.35 and its two-hundred day moving average is $1.70. BitFuFu has a 52-week low of $1.18 and a 52-week high of $4.06.

BitFuFu (NASDAQ:FUFU - Get Free Report) last issued its quarterly earnings results on Monday, August 17th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). BitFuFu had a negative return on equity of 18.05% and a negative net margin of 36.00%.The company had revenue of $42.76 million during the quarter, compared to the consensus estimate of $75.02 million.

BitFuFu announced that its board has initiated a stock buyback plan on Monday, June 22nd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

About BitFuFu

BitFuFu Limited is a digital asset mining services company that focuses primarily on Bitcoin mining and related infrastructure. The company provides cloud-mining services that allow customers to purchase or manage Bitcoin mining capacity without owning and operating mining equipment directly.

Its offerings also include Bitcoin self-mining, mining-farm hosting, hash-rate management and mining hardware sales. Through these services, BitFuFu supports individual and institutional customers with access to mining equipment, computing power and related operational capabilities.

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