HC Wainwright Reaffirms “Buy” Rating for BitFuFu (NASDAQ:FUFU)

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $7.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 94.44% from the stock’s current price.

BitFuFu Stock Up 1.7%

NASDAQ FUFU opened at $3.60 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09. The firm has a 50-day simple moving average of $4.25 and a 200 day simple moving average of $4.85. BitFuFu has a twelve month low of $2.80 and a twelve month high of $7.39. The stock has a market cap of $587.19 million, a PE ratio of 10.29 and a beta of 0.31.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FUFU. WINTON GROUP Ltd bought a new position in shares of BitFuFu during the 4th quarter worth about $83,000. Jane Street Group LLC lifted its stake in BitFuFu by 14.0% during the third quarter. Jane Street Group LLC now owns 16,153 shares of the company’s stock worth $65,000 after purchasing an additional 1,984 shares during the period. OLD Mission Capital LLC bought a new position in BitFuFu during the fourth quarter worth about $67,000. Wedbush Securities Inc. bought a new position in BitFuFu during the first quarter worth about $50,000. Finally, Prospect Financial Group LLC bought a new position in BitFuFu during the fourth quarter worth about $50,000. 37.26% of the stock is 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.