B. Riley Lowers BitFuFu (NASDAQ:FUFU) Price Target to $6.00

by · The Cerbat Gem

BitFuFu (NASDAQ:FUFU – Get Free Report) had its price objective lowered by investment analysts at B. Riley from $7.00 to $6.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s target price indicates a potential upside of 103.74% from the company’s previous close.

FUFU has been the topic of a number of other reports. Roth Capital assumed coverage on BitFuFu in a research note on Wednesday, August 13th. They issued a “buy” rating and a $6.00 price objective on the stock. Zacks Research raised BitFuFu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BitFuFu in a research report on Wednesday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of BitFuFu in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $6.13.

Read Our Latest Stock Report on FUFU

BitFuFu Trading Up 3.7%

Shares of FUFU stock traded up $0.11 during mid-day trading on Tuesday, reaching $2.95. 83,274 shares of the stock traded hands, compared to its average volume of 333,625. The company has a market cap of $490.28 million, a price-to-earnings ratio of 7.52 and a beta of 0.31. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $3.61 and its two-hundred day simple moving average is $3.61. BitFuFu has a 1-year low of $2.72 and a 1-year high of $6.05.

BitFuFu (NASDAQ:FUFU – Get Free Report) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $180.67 million during the quarter, compared to the consensus estimate of $130.17 million. BitFuFu had a return on equity of 16.60% and a net margin of 13.57%. On average, research analysts anticipate that BitFuFu will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP bought a new position in BitFuFu during the second quarter valued at about $36,000. Squarepoint Ops LLC bought a new stake in BitFuFu in the third quarter worth about $48,000. Prelude Capital Management LLC purchased a new position in BitFuFu in the third quarter valued at about $48,000. Wedbush Securities Inc. bought a new position in shares of BitFuFu during the 1st quarter valued at approximately $50,000. Finally, Jane Street Group LLC grew its position in shares of 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 acquiring an additional 3,192 shares during the period. Hedge funds and other institutional investors own 37.26% of the company’s stock.

BitFuFu Company Profile

(Get Free Report)

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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