Shares of Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $3.66.
BITF has been the subject of a number of research reports. HC Wainwright reaffirmed a "buy" rating and set a $4.00 target price on shares of Bitfarms in a report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $5.00 target price on shares of Bitfarms in a report on Thursday, October 3rd. Finally, Stifel Canada raised shares of Bitfarms from a "hold" rating to a "moderate buy" rating in a report on Friday.
Read Our Latest Research Report on BITF
Bitfarms Stock Performance
BITF stock traded down $0.08 during midday trading on Tuesday, reaching $1.97. 40,819,294 shares of the company's stock traded hands, compared to its average volume of 24,384,014. Bitfarms has a 52-week low of $1.03 and a 52-week high of $3.91. The stock has a market cap of $892.27 million, a P/E ratio of -5.69 and a beta of 3.64. 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's 50-day moving average is $2.06 and its 200 day moving average is $2.25.
Institutional Trading of Bitfarms
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC purchased a new stake in shares of Bitfarms in the third quarter worth $161,000. Geode Capital Management LLC grew its stake in Bitfarms by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,879,454 shares of the company's stock valued at $3,965,000 after acquiring an additional 81,760 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Bitfarms during the third quarter valued at $201,000. XTX Topco Ltd purchased a new position in Bitfarms during the third quarter valued at $254,000. Finally, Weiss Asset Management LP grew its stake in Bitfarms by 173.6% during the third quarter. Weiss Asset Management LP now owns 1,582,934 shares of the company's stock valued at $3,340,000 after acquiring an additional 1,004,400 shares in the last quarter. 20.59% of the stock is owned by hedge funds and other 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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