BitFuFu (NASDAQ:FUFU) Given New $4.00 Price Target at HC Wainwright

BitFuFu (NASDAQ:FUFU) had its target price dropped by equities researchers at HC Wainwright from $7.00 to $4.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 140.24% from the company’s current price.

Several other research analysts have also weighed in on FUFU. Weiss Ratings reissued a “sell (d+)” rating on shares of BitFuFu in a research note on Wednesday, January 21st. Zacks Research cut shares of BitFuFu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.38.

BitFuFu Trading Down 26.0%

NASDAQ FUFU opened at $1.67 on Monday. BitFuFu has a 12 month low of $1.56 and a 12 month high of $5.85. The stock has a 50-day simple moving average of $2.64 and a 200 day simple moving average of $3.06. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $277.19 million, a PE ratio of -4.90 and a beta of 0.35.

BitFuFu (NASDAQ:FUFU) last issued its earnings results on Friday, March 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The company had revenue of $91.80 million for the quarter, compared to the consensus estimate of $105.15 million. BitFuFu had a negative return on equity of 12.60% and a negative net margin of 12.06%. Research analysts forecast that BitFuFu will post 0.17 EPS for the current year.

Hedge Funds Weigh In On BitFuFu

Several institutional investors and hedge funds have recently modified their holdings of FUFU. Engineers Gate Manager LP bought a new stake in BitFuFu during the 2nd quarter worth approximately $36,000. Boothbay Fund Management LLC bought a new position in BitFuFu in the fourth quarter valued at approximately $31,000. Jane Street Group LLC acquired a new position in shares of BitFuFu in the first quarter valued at approximately $57,000. Prelude Capital Management LLC bought a new stake in shares of BitFuFu during the third quarter worth $48,000. Finally, Squarepoint Ops LLC bought a new stake in shares of BitFuFu during the third quarter worth $48,000. 37.26% of the stock is currently owned by institutional investors and hedge funds.

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.