BitFuFu (NASDAQ:FUFU) Now Covered by HC Wainwright

Equities researchers at HC Wainwright initiated coverage on shares of BitFuFu (NASDAQ:FUFU) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 49.25% from the company’s current price.

BitFuFu Stock Performance

FUFU stock opened at $4.69 on Wednesday. BitFuFu has a 12 month low of $2.32 and a 12 month high of $18.32. The firm’s 50-day moving average is $4.44 and its 200 day moving average is $4.19. The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.87.

BitFuFu (NASDAQ:FUFU) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.01 EPS for the quarter. The company had revenue of $129.42 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BitFuFu stock. MMCAP International Inc. SPC bought a new position in shares of BitFuFu Inc. (NASDAQ:FUFU) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 16,500 shares of the company’s stock, valued at approximately $82,000. MMCAP International Inc. SPC owned approximately 0.38% of BitFuFu at the end of the most recent reporting period. Institutional investors own 37.26% of the company’s stock.

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.