BitFuFu (NASDAQ:FUFU) Given “Buy” Rating at HC Wainwright

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $7.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 27.27% from the company’s current price.

BitFuFu Price Performance

Shares of FUFU stock opened at $5.50 on Wednesday. The stock’s 50-day moving average price is $4.91 and its 200-day moving average price is $4.91. BitFuFu has a 12-month low of $2.32 and a 12-month high of $7.39. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88.

BitFuFu (NASDAQ:FUFU) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.17. BitFuFu had a return on equity of 40.15% and a net margin of 8.17%. The business had revenue of $99.29 million for the quarter, compared to the consensus estimate of $99.29 million. Analysts expect that BitFuFu will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP bought a new stake in shares of BitFuFu in the 3rd quarter valued at about $110,000. XTX Topco Ltd purchased a new position in BitFuFu during the third quarter valued at approximately $107,000. WINTON GROUP Ltd bought a new position in BitFuFu in the fourth quarter worth approximately $83,000. Jane Street Group LLC lifted its holdings in BitFuFu by 14.0% during the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock worth $65,000 after buying an additional 1,984 shares during the period. Finally, OLD Mission Capital LLC bought a new stake in BitFuFu during the 4th quarter valued at $67,000. 37.26% of the stock is currently 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.