BitFuFu’s (FUFU) “Buy” Rating Reiterated at HC Wainwright

BitFuFu (NASDAQ:FUFU)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $7.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 27.27% from the company’s current price.

BitFuFu Price Performance

NASDAQ:FUFU opened at $5.50 on Wednesday. BitFuFu has a one year low of $2.32 and a one year high of $7.39. The business has a fifty day moving average price of $4.91 and a 200-day moving average price of $4.91. 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 (NASDAQ:FUFU) last issued its quarterly earnings results 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 business had revenue of $99.29 million during the quarter, compared to analysts’ expectations of $99.29 million. Analysts anticipate that BitFuFu will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP bought a new stake in BitFuFu during the third quarter valued at about $110,000. XTX Topco Ltd bought a new stake in BitFuFu during the 3rd quarter valued at approximately $107,000. WINTON GROUP Ltd bought a new stake in BitFuFu during the 4th quarter valued at approximately $83,000. Jane Street Group LLC lifted its holdings in BitFuFu by 14.0% in the 3rd 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 in the last quarter. Finally, OLD Mission Capital LLC bought a new position in BitFuFu in the 4th quarter worth approximately $67,000. Hedge funds and other 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.