BitFuFu (NASDAQ:FUFU) Stock Price Up 4.5% – Should You Buy?

BitFuFu Inc. (NASDAQ:FUFU) shares were up 4.5% on Friday . The stock traded as high as $4.30 and last traded at $4.37. Approximately 10,187 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 161,387 shares. The stock had previously closed at $4.18.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of BitFuFu in a report on Wednesday, March 26th.

BitFuFu Stock Performance

The company has a market capitalization of $686.68 million, a PE ratio of 12.03 and a beta of 0.28. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.88. The business has a 50 day simple moving average of $4.81 and a 200 day simple moving average of $4.91.

BitFuFu (NASDAQ:FUFU) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. The firm had revenue of $99.29 million for the quarter, compared to analyst estimates of $99.29 million. BitFuFu had a net margin of 8.17% and a return on equity of 40.15%. Equities research analysts predict that BitFuFu Inc. will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On BitFuFu

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new position in shares of BitFuFu in the third quarter worth about $110,000. XTX Topco Ltd purchased a new position in shares of BitFuFu in the 3rd quarter valued at about $107,000. WINTON GROUP Ltd purchased a new position in shares of BitFuFu in the 4th quarter valued at about $83,000. OLD Mission Capital LLC acquired a new position in BitFuFu in the 4th quarter worth about $67,000. Finally, Prospect Financial Group LLC purchased a new position in BitFuFu during the fourth quarter worth approximately $50,000. 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.