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

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $7.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 42.28% from the company’s current price.

BitFuFu Stock Performance

Shares of NASDAQ FUFU opened at $4.92 on Wednesday. The company’s 50 day moving average price is $4.91 and its 200-day moving average price is $4.92. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.09 and a current ratio of 4.09. BitFuFu has a 52-week low of $2.32 and a 52-week high of $7.39.

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

Institutional Trading of BitFuFu

Several hedge funds have recently modified their holdings of the stock. Prospect Financial Group LLC acquired a new stake in BitFuFu in the fourth quarter worth $50,000. Jane Street Group LLC grew its stake 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 valued at $65,000 after buying an additional 1,984 shares during the period. OLD Mission Capital LLC acquired a new position in BitFuFu during the 4th quarter worth approximately $67,000. WINTON GROUP Ltd bought a new position in BitFuFu in the fourth quarter worth approximately $83,000. Finally, XTX Topco Ltd acquired a new stake in BitFuFu in the third quarter valued at approximately $107,000. 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.