BitFuFu Inc. (NASDAQ:FUFU) Given Consensus Recommendation of “Hold” by Brokerages

BitFuFu Inc. (NASDAQ:FUFU) has been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $6.1250.

Several research analysts recently commented on FUFU shares. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of BitFuFu in a report on Thursday, November 13th. Zacks Research lowered shares of BitFuFu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BitFuFu in a research note on Wednesday, October 8th. Finally, B. Riley dropped their price objective on BitFuFu from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th.

BitFuFu Price Performance

Shares of FUFU stock opened at $3.35 on Friday. The stock has a 50 day moving average price of $2.91 and a 200 day moving average price of $3.43. BitFuFu has a 52-week low of $2.38 and a 52-week high of $5.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a market capitalization of $557.71 million, a P/E ratio of 8.59 and a beta of 0.33.

BitFuFu (NASDAQ:FUFU) last released its earnings results on Wednesday, November 12th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $180.67 million for the quarter, compared to analyst estimates of $130.17 million. BitFuFu had a return on equity of 16.60% and a net margin of 13.57%. As a group, sell-side analysts predict that BitFuFu will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On BitFuFu

Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BitFuFu by 51.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 247,703 shares of the company’s stock worth $929,000 after acquiring an additional 83,984 shares during the period. Vident Advisory LLC raised its holdings in shares of BitFuFu by 24.3% in the 2nd quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock valued at $793,000 after purchasing an additional 47,987 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of BitFuFu in the 3rd quarter worth approximately $521,000. Harvest Portfolios Group Inc. lifted its position in shares of BitFuFu by 153.9% in the 3rd 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. Finally, Invesco Ltd. bought a new position in shares of BitFuFu during the second quarter valued at approximately $321,000. Hedge funds and other institutional investors 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.