BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $4.46, but opened at $4.67. BitFuFu shares last traded at $4.79, with a volume of 61,837 shares trading hands.
The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.17. The company 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%.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of BitFuFu in a report on Wednesday.
Get Our Latest Report on BitFuFu
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Prospect Financial Group LLC acquired a new position in shares of BitFuFu in the fourth quarter valued at about $50,000. Jane Street Group LLC boosted its holdings in BitFuFu by 14.0% in the 3rd quarter. Jane Street Group LLC now owns 16,153 shares of the company's stock valued at $65,000 after purchasing an additional 1,984 shares during the period. OLD Mission Capital LLC acquired a new position in shares of BitFuFu during the 4th quarter worth approximately $67,000. WINTON GROUP Ltd bought a new position in shares of BitFuFu during the fourth quarter worth approximately $83,000. Finally, XTX Topco Ltd acquired a new stake in shares of BitFuFu in the third quarter valued at approximately $107,000. Institutional investors own 37.26% of the company's stock.
BitFuFu Price Performance
The company has a debt-to-equity ratio of 0.88, a current ratio of 4.09 and a quick ratio of 4.09. The firm has a 50 day moving average of $4.90 and a 200-day moving average of $4.92.
BitFuFu Company Profile
(
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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.
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