BitFuFu (NASDAQ:FUFU) Receives “Buy” Rating from HC Wainwright

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $7.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 42.28% from the stock’s current price.

BitFuFu Trading Down 10.7 %

FUFU stock opened at $4.92 on Wednesday. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88. The business has a 50-day simple moving average of $4.91 and a two-hundred day simple moving average of $4.92. BitFuFu has a 52-week low of $2.32 and a 52-week high of $7.39.

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

Institutional Inflows and Outflows

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

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.