HC Wainwright Initiates Coverage on BitFuFu (NASDAQ:FUFU)

Stock analysts at HC Wainwright began coverage on shares of BitFuFu (NASDAQ:FUFU) in a report released on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 53.17% from the company’s previous close.

BitFuFu Trading Up 0.2 %

FUFU stock opened at $4.57 on Wednesday. BitFuFu has a 52-week low of $2.32 and a 52-week high of $18.32. The business has a fifty day moving average of $4.44 and a two-hundred day moving average of $4.18. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.41 and a quick ratio of 3.40.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $129.42 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BitFuFu stock. MMCAP International Inc. SPC acquired a new stake in BitFuFu Inc. (NASDAQ:FUFU) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 16,500 shares of the company’s stock, valued at approximately $82,000. MMCAP International Inc. SPC owned 0.38% of BitFuFu at the end of the most recent quarter. 37.26% of the stock is owned by institutional investors.

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.