Northland Securities Initiates Coverage on BitFuFu (NASDAQ:FUFU)

Northland Securities initiated coverage on shares of BitFuFu (NASDAQ:FUFU) in a research note released on Wednesday, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $5.50 price target on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of BitFuFu in a report on Friday, June 6th.

BitFuFu Trading Down 0.9%

Shares of NASDAQ FUFU opened at $3.18 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.03 and a quick ratio of 3.02. The stock has a market cap of $518.69 million, a P/E ratio of 159.08 and a beta of 0.33. BitFuFu has a 1 year low of $2.91 and a 1 year high of $7.39. The firm has a 50-day moving average of $3.70 and a 200 day moving average of $4.55.

BitFuFu (NASDAQ:FUFU) last issued its earnings results on Thursday, June 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.14). The firm had revenue of $99.82 million during the quarter, compared to analysts’ expectations of $114.03 million. BitFuFu had a return on equity of 1.34% and a net margin of 0.46%. As a group, sell-side analysts expect that BitFuFu will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FUFU. Prospect Financial Group LLC purchased a new position in BitFuFu in the fourth quarter worth about $50,000. Wedbush Securities Inc. purchased a new position in shares of BitFuFu during the first quarter valued at approximately $50,000. Jane Street Group LLC purchased a new position in shares of BitFuFu during the first quarter valued at approximately $57,000. OLD Mission Capital LLC purchased a new position in shares of BitFuFu during the fourth quarter valued at approximately $67,000. Finally, WINTON GROUP Ltd purchased a new position in shares of BitFuFu during the fourth quarter valued at approximately $83,000. 37.26% of the stock is owned by hedge funds and other 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.