BitFuFu (NASDAQ:FUFU) Lowered to Sell Rating by Wall Street Zen
by Kim Johansen · The Markets DailyWall Street Zen lowered shares of BitFuFu (NASDAQ:FUFU – Free Report) from a hold rating to a sell rating in a research report released on Saturday morning.
FUFU has been the topic of several other research reports. Zacks Research cut shares of BitFuFu from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th. HC Wainwright reduced their target price on BitFuFu from $7.00 to $4.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BitFuFu in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.38.
Check Out Our Latest Report on BitFuFu
BitFuFu Stock Performance
Shares of FUFU stock opened at $1.89 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.94 and a quick ratio of 2.58. The firm has a 50-day moving average of $2.51 and a 200-day moving average of $3.00. BitFuFu has a one year low of $1.56 and a one year high of $5.38. The company has a market cap of $314.65 million, a P/E ratio of -5.56 and a beta of 0.35.
BitFuFu (NASDAQ:FUFU – Get Free Report) last released its quarterly earnings results on Friday, March 20th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.18). BitFuFu had a negative return on equity of 13.82% and a negative net margin of 12.06%.The firm had revenue of $91.80 million for the quarter, compared to analysts’ expectations of $105.15 million. Equities research analysts forecast that BitFuFu will post 0.17 EPS for the current fiscal year.
Institutional Trading of BitFuFu
Several hedge funds and other institutional investors have recently modified their holdings of FUFU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of BitFuFu during the 2nd quarter valued at approximately $529,000. Vontobel Holding Ltd. purchased a new position in BitFuFu in the 3rd quarter valued at approximately $521,000. Invesco Ltd. bought a new stake in BitFuFu during the 2nd quarter valued at $321,000. Harvest Portfolios Group Inc. raised its holdings in BitFuFu by 153.9% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company’s stock valued at $420,000 after acquiring an additional 67,882 shares during the period. Finally, Vident Advisory LLC lifted its position in shares of BitFuFu by 24.3% during the second quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock worth $793,000 after acquiring an additional 47,987 shares in the last quarter. Institutional investors 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.