BitFuFu (NASDAQ:FUFU) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of BitFuFu (NASDAQ:FUFU) in a report issued on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $7.00 price objective on the stock. HC Wainwright also issued estimates for BitFuFu’s Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at $0.09 EPS and FY2025 earnings at ($0.07) EPS.

BitFuFu Trading Down 0.2 %

Shares of BitFuFu stock opened at $4.68 on Wednesday. BitFuFu has a 12 month low of $2.32 and a 12 month high of $18.32. The company has a quick ratio of 3.40, a current ratio of 4.09 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $4.45 and a 200-day simple moving average of $4.21.

BitFuFu (NASDAQ:FUFU) last released its earnings results on Tuesday, August 20th. The company reported $0.01 earnings per share (EPS) for the quarter. BitFuFu had a net margin of 8.17% and a return on equity of 40.15%. The company had revenue of $129.42 million during the quarter.

Institutional Trading of BitFuFu

A hedge fund recently bought a new stake in BitFuFu stock. MMCAP International Inc. SPC purchased a new position in shares of BitFuFu Inc. (NASDAQ:FUFU) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,500 shares of the company’s stock, valued at approximately $82,000. MMCAP International Inc. SPC owned approximately 0.38% of BitFuFu at the end of the most recent reporting period. 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.