HC Wainwright reiterated their buy rating on shares of Bitfarms (NASDAQ:BITF - Free Report) in a research note issued to investors on Thursday,Benzinga reports. HC Wainwright currently has a $4.00 price objective on the stock.
Separately, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $5.00 target price on shares of Bitfarms in a report on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Bitfarms presently has a consensus rating of "Moderate Buy" and an average price target of $3.66.
Read Our Latest Report on BITF
Bitfarms Stock Performance
Shares of Bitfarms stock traded down $0.16 during trading on Thursday, hitting $2.11. 38,988,652 shares of the stock were exchanged, compared to its average volume of 23,232,457. The stock has a market capitalization of $955.45 million, a price-to-earnings ratio of -6.47 and a beta of 3.64. The company has a fifty day moving average price of $2.03 and a 200-day moving average price of $2.23. Bitfarms has a 1-year low of $1.01 and a 1-year high of $3.91. The company has a current ratio of 5.11, a quick ratio of 5.09 and a debt-to-equity ratio of 0.03.
Hedge Funds Weigh In On Bitfarms
Institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd acquired a new position in Bitfarms in the 2nd quarter valued at approximately $38,000. Lifeworks Advisors LLC acquired a new stake in shares of Bitfarms during the third quarter worth $37,000. Shell Asset Management Co. acquired a new stake in shares of Bitfarms during the first quarter worth $43,000. Chesapeake Capital Corp IL increased its position in shares of 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 buying an additional 4,800 shares during the period. Finally, HBW Advisory Services LLC bought a new position in Bitfarms during the third quarter worth $63,000. 20.59% of the stock is currently owned by institutional investors and hedge funds.
About Bitfarms
(
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Bitfarms 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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