BitFuFu Inc. (NASDAQ:FUFU) Given Average Rating of “Hold” by Analysts

BitFuFu Inc. (NASDAQ:FUFU) has earned an average rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $6.1250.

FUFU has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of BitFuFu in a research note on Wednesday, January 21st. Zacks Research lowered BitFuFu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. B. Riley Financial decreased their price objective on shares of BitFuFu from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of BitFuFu in a research note on Thursday, November 13th.

BitFuFu Trading Up 0.4%

Shares of FUFU stock opened at $2.70 on Friday. The company has a market capitalization of $449.50 million, a PE ratio of 6.92 and a beta of 0.35. BitFuFu has a 52-week low of $2.05 and a 52-week high of $5.85. The business’s fifty day moving average is $2.75 and its 200 day moving average is $3.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.58 and a current ratio of 2.58.

Hedge Funds Weigh In On BitFuFu

Institutional investors have recently made changes to their positions in the stock. Harvest Portfolios Group Inc. purchased a new position in BitFuFu in the second quarter worth $142,000. RPO LLC purchased a new stake in BitFuFu during the fourth quarter valued at about $61,000. Vontobel Holding Ltd. lifted its stake in BitFuFu by 12.6% during the fourth quarter. Vontobel Holding Ltd. now owns 156,986 shares of the company’s stock worth $413,000 after purchasing an additional 17,605 shares during the last quarter. Renaissance Technologies LLC lifted its stake in BitFuFu by 24.7% during the fourth quarter. Renaissance Technologies LLC now owns 54,000 shares of the company’s stock worth $143,000 after purchasing an additional 10,700 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of BitFuFu in the 3rd quarter worth about $48,000. 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.