BitFuFu (NASDAQ:FUFU) Stock Rating Lowered by Wall Street Zen

BitFuFu (NASDAQ:FUFU) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other brokerages have also recently weighed in on FUFU. Zacks Research cut shares of BitFuFu from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th. Weiss Ratings restated a “sell (d+)” rating on shares of BitFuFu in a research report on Wednesday, January 21st. Finally, HC Wainwright dropped their price objective on BitFuFu from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.38.

BitFuFu Stock Performance

Shares of FUFU stock opened at $1.89 on Friday. The stock has a market cap of $314.65 million, a PE ratio of -5.56 and a beta of 0.35. The stock has a 50-day moving average of $2.51 and a 200-day moving average of $3.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.94 and a quick ratio of 2.93. BitFuFu has a one year low of $1.56 and a one year high of $5.38.

BitFuFu (NASDAQ:FUFU) last released its quarterly earnings data on Friday, March 20th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.18). The firm had revenue of $91.80 million for the quarter, compared to the consensus estimate of $105.15 million. BitFuFu had a negative return on equity of 13.82% and a negative net margin of 12.06%. As a group, sell-side analysts expect that BitFuFu will post 0.17 earnings per share for the current year.

Institutional Investors Weigh In On BitFuFu

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in BitFuFu in the 2nd quarter valued at approximately $529,000. Vontobel Holding Ltd. bought a new position in shares of BitFuFu during the 3rd quarter worth approximately $521,000. Invesco Ltd. acquired a new stake in shares of BitFuFu in the second quarter valued at approximately $321,000. Harvest Portfolios Group Inc. raised its holdings in shares of BitFuFu by 153.9% in the third quarter. Harvest Portfolios Group Inc. now owns 111,987 shares of the company’s stock valued at $420,000 after purchasing an additional 67,882 shares during the last quarter. Finally, Vident Advisory LLC lifted its position in shares of BitFuFu by 24.3% in the second quarter. Vident Advisory LLC now owns 245,497 shares of the company’s stock worth $793,000 after purchasing an additional 47,987 shares in the last quarter. Institutional investors and hedge funds 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.