Shares of Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $4.05.
Several equities research analysts recently issued reports on BITF shares. HC Wainwright reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Bitfarms in a research note on Thursday, November 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $5.00 price target on shares of Bitfarms in a research report on Thursday, October 3rd. Alliance Global Partners started coverage on Bitfarms in a research note on Wednesday, December 4th. They set a "buy" rating and a $6.00 price target for the company. Finally, Stifel Canada raised Bitfarms from a "hold" rating to a "moderate buy" rating in a research note on Friday, November 22nd.
View Our Latest Research Report on BITF
Bitfarms Stock Down 0.6 %
NASDAQ BITF traded down $0.01 during trading on Friday, reaching $1.68. The company's stock had a trading volume of 55,655,578 shares, compared to its average volume of 26,424,178. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $760.93 million, a PE ratio of -4.67 and a beta of 3.59. Bitfarms has a 1-year low of $1.52 and a 1-year high of $3.91. The business has a 50-day moving average price of $2.07 and a 200-day moving average price of $2.25.
Hedge Funds Weigh In On Bitfarms
A number of institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC acquired a new stake in Bitfarms in the 3rd quarter valued at approximately $25,000. WINTON GROUP Ltd bought a new stake in shares of Bitfarms in the second quarter valued at approximately $38,000. Lifeworks Advisors LLC acquired a new stake in shares of Bitfarms in the third quarter worth $37,000. Chesapeake Capital Corp IL increased its position in Bitfarms by 27.9% during the third quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company's stock worth $50,000 after acquiring an additional 4,800 shares during the period. Finally, HBW Advisory Services LLC acquired a new position in Bitfarms during the 3rd quarter valued at $63,000. 20.59% of the stock is currently owned by institutional investors.
Bitfarms Company Profile
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Get Free ReportBitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.
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