Weiss Ratings Reaffirms Sell (D+) Rating for BitFuFu (NASDAQ:FUFU)

Key Points

• Weiss Ratings has reaffirmed a "sell (D+)" rating for BitFuFu (NASDAQ:FUFU), signaling potential concerns about the company's stock performance.
• Despite the sell rating from Weiss, other analysts like HC Wainwright and B. Riley have issued "buy" ratings with target prices of $7.00 and $7.31, respectively.
• BitFuFu recently reported earnings of $0.09 per share, surpassing analyst expectations, with a net margin of 12.44% and revenue of $115.4 million for the quarter.

BitFuFu (NASDAQ:FUFU - Get Free Report)'s stock had its "sell (d+)" rating reiterated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently commented on FUFU. HC Wainwright restated a "buy" rating and issued a $7.00 target price on shares of BitFuFu in a research note on Tuesday, August 19th. Zacks Research raised BitFuFu from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 11th. Northland Securities started coverage on BitFuFu in a report on Wednesday, June 18th. They issued a "market perform" rating and a $5.50 price target for the company. B. Riley started coverage on BitFuFu in a report on Friday, July 18th. They issued a "buy" rating and a $7.31 price target for the company. Finally, Wall Street Zen raised BitFuFu from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $6.45.

BitFuFu Stock Performance

Shares of BitFuFu stock traded up $0.01 during midday trading on Wednesday, hitting $3.84. The company had a trading volume of 105,314 shares, compared to its average volume of 328,859. BitFuFu has a 1-year low of $2.91 and a 1-year high of $6.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.97 and a quick ratio of 2.96. The business's 50 day simple moving average is $3.77 and its two-hundred day simple moving average is $3.79. The stock has a market cap of $630.34 million, a PE ratio of 13.24 and a beta of 0.32.

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

Hedge Funds Weigh In On BitFuFu

A number of large investors have recently bought and sold shares of the company. Vident Advisory LLC acquired a new stake in shares of BitFuFu in the 1st quarter valued at approximately $905,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of BitFuFu in the 2nd quarter valued at approximately $529,000. Invesco Ltd. acquired a new stake in shares of BitFuFu in the 2nd quarter valued at approximately $321,000. Harvest Portfolios Group Inc. acquired a new stake in shares of BitFuFu in the 2nd quarter valued at approximately $142,000. Finally, Jane Street Group LLC acquired a new stake in shares of BitFuFu in the 1st quarter valued at approximately $57,000. Institutional investors and hedge funds 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.

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