Vident Advisory LLC Acquires Shares of 197,510 BitFuFu Inc. $FUFU

Key Points

• Vident Advisory LLC has acquired 197,510 shares of BitFuFu Inc., valued at approximately $905,000, representing a 0.12% ownership stake.
• BitFuFu has a current consensus rating of "Moderate Buy" with an average target price of $6.45, as noted by various research analysts.
• The stock is currently trading at $3.65 and has a market cap of $599.15 million, with a P/E ratio of 12.59.

Vident Advisory LLC acquired a new stake in BitFuFu Inc. (NASDAQ:FUFU - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 197,510 shares of the company's stock, valued at approximately $905,000. Vident Advisory LLC owned 0.12% of BitFuFu as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Wedbush Securities Inc. acquired a new position in BitFuFu in the first quarter valued at $50,000. 37.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on FUFU. B. Riley began coverage on shares of BitFuFu in a research note on Friday, July 18th. They issued a "buy" rating and a $7.31 price objective on the stock. Roth Capital began coverage on shares of BitFuFu in a research note on Wednesday, August 13th. They issued a "buy" rating and a $6.00 price objective on the stock. Zacks Research upgraded shares of BitFuFu from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Northland Capmk upgraded shares of BitFuFu to a "hold" rating in a research note on Wednesday, June 18th. 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 target price on the stock. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, BitFuFu currently has a consensus rating of "Moderate Buy" and an average target price of $6.45.

BitFuFu Stock Down 4.7%

FUFU stock opened at $3.65 on Friday. The company has a market cap of $599.15 million, a P/E ratio of 12.59 and a beta of 0.32. BitFuFu Inc. has a 52 week low of $2.91 and a 52 week high of $6.24. The company's 50-day moving average price is $3.70 and its 200 day moving average price is $3.94. The company has a current ratio of 2.97, a quick ratio of 2.96 and a debt-to-equity ratio of 0.70.

BitFuFu (NASDAQ:FUFU - Get Free Report) last released its quarterly earnings data on Friday, August 15th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. The firm had revenue of $115.40 million for the quarter, compared to the consensus estimate of $101.60 million. BitFuFu had a net margin of 12.44% and a return on equity of 10.33%. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. On average, research analysts expect that BitFuFu Inc. will post 0.17 earnings per share for the current fiscal year.

BitFuFu 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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