Shares of BitFuFu Inc. (NASDAQ:FUFU – Get Free Report) have received a consensus recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $5.3333.
Several equities research analysts recently weighed in on the company. Weiss Ratings lowered BitFuFu from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. Wall Street Zen lowered shares of BitFuFu from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. HC Wainwright reduced their price objective on shares of BitFuFu from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Finally, Zacks Research cut shares of BitFuFu from a “hold” rating to a “strong sell” rating in a research note on Friday, May 22nd.
Get Our Latest Research Report on BitFuFu
BitFuFu Stock Down 2.1%
BitFuFu declared that its Board of Directors has approved a stock repurchase program on Monday, June 22nd that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Institutional Investors Weigh In On BitFuFu
Hedge funds have recently bought and sold shares of the company. Boothbay Fund Management LLC acquired a new stake in shares of BitFuFu in the fourth quarter valued at about $31,000. Engineers Gate Manager LP bought a new position in shares of BitFuFu in the second quarter worth about $36,000. Squarepoint Ops LLC acquired a new position in shares of BitFuFu during the 3rd quarter worth about $48,000. Prelude Capital Management LLC bought a new stake in BitFuFu during the 3rd quarter valued at approximately $48,000. Finally, Jane Street Group LLC boosted its stake in BitFuFu by 25.4% during the 2nd quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock valued at $51,000 after purchasing an additional 3,192 shares during the period. 37.26% of the stock is currently owned by institutional investors.
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.
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