Investing.com - Jones Trading initiated coverage on BitFuFu Inc. (NASDAQ:FUFU) with a Buy rating and a price target of $3.00. The stock currently trades at $1.45, representing potential upside of over 100% to the analyst’s target. Shares have declined 60% over the past year, with analyst consensus maintaining a Buy rating and price targets ranging from $3 to $4.

The Singapore-based company offers cloud mining services to retail and institutional customers. Jones Trading noted that the business model separates the majority of revenue from Bitcoin volatility. The company generated $399.51 million in revenue over the last twelve months, though it operates with a lean gross profit margin of 7.39%. According to InvestingPro analysis, analysts predict the company will be profitable this year with forecasted earnings of $0.08 per share for fiscal 2026.