BitFuFu (NASDAQ:FUFU) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of BitFuFu (NASDAQ:FUFU) in a research note issued to investors on Wednesday,Benzinga reports. HC Wainwright currently has a $7.00 target price on the stock.

BitFuFu Price Performance

BitFuFu stock opened at $5.51 on Wednesday. BitFuFu has a 12-month low of $2.32 and a 12-month high of $7.39. The firm has a 50 day simple moving average of $4.91 and a 200-day simple moving average of $4.92. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.88.

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

Hedge Funds Weigh In On BitFuFu

Several hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in BitFuFu during the third quarter worth approximately $107,000. Wellington Management Group LLP bought a new stake in shares of BitFuFu during the 3rd quarter worth $110,000. Jane Street Group LLC grew its holdings in shares of BitFuFu by 14.0% in the 3rd quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock worth $65,000 after acquiring an additional 1,984 shares during the last quarter. Prospect Financial Group LLC acquired a new stake in shares of BitFuFu during the fourth quarter worth $50,000. Finally, OLD Mission Capital LLC purchased a new stake in shares of BitFuFu during the fourth quarter valued at $67,000. Institutional investors and hedge funds own 37.26% of the company’s stock.

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.