B. Riley Issues Pessimistic Forecast for BitFuFu (NASDAQ:FUFU) Stock Price

BitFuFu (NASDAQ:FUFU) had its price objective decreased by analysts at B. Riley from $7.00 to $6.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective suggests a potential upside of 103.74% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of BitFuFu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Roth Capital began coverage on shares of BitFuFu in a research note on Wednesday, August 13th. They issued a “buy” rating and a $6.00 target price for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, October 8th. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of BitFuFu in a report 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 assigned a Sell rating to the company. According to data from MarketBeat, BitFuFu currently has an average rating of “Moderate Buy” and a consensus target price of $6.13.

BitFuFu Trading Up 3.7%

Shares of FUFU traded up $0.11 on Tuesday, reaching $2.95. 83,274 shares of the company’s stock were exchanged, compared to its average volume of 333,625. The business has a 50 day moving average price of $3.61 and a two-hundred day moving average price of $3.61. BitFuFu has a 12 month low of $2.72 and a 12 month high of $6.05. The stock has a market capitalization of $490.28 million, a P/E ratio of 7.52 and a beta of 0.31. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.47.

BitFuFu (NASDAQ:FUFU) last posted its earnings results on Wednesday, November 12th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. BitFuFu had a return on equity of 16.60% and a net margin of 13.57%.The company had revenue of $180.67 million during the quarter, compared to analyst estimates of $130.17 million. Research analysts anticipate that BitFuFu will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On BitFuFu

Hedge funds have recently bought and sold shares of the business. Wedbush Securities Inc. bought a new position in shares of BitFuFu in the first quarter worth $50,000. Engineers Gate Manager LP bought a new position in BitFuFu in the second quarter valued at approximately $36,000. Jane Street Group LLC bought a new position in BitFuFu in the first quarter valued at approximately $57,000. Prelude Capital Management LLC acquired a new stake in shares of BitFuFu in the 3rd quarter valued at $48,000. Finally, Squarepoint Ops LLC acquired a new position in shares of BitFuFu during the 3rd quarter worth $48,000. 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.