Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) shares hit a new 52-week low on Monday . The stock traded as low as $1.47 and last traded at $1.51, with a volume of 5621265 shares. The stock had previously closed at $1.61.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Stifel Canada raised shares of Bitfarms from a "hold" rating to a "moderate buy" rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods started coverage on Bitfarms in a research note on Wednesday, January 8th. They set an "outperform" rating for the company. HC Wainwright reaffirmed a "buy" rating and issued a $4.00 price target on shares of Bitfarms in a research report on Thursday, November 14th. Alliance Global Partners started coverage on Bitfarms in a research note on Wednesday, December 4th. They issued a "buy" rating and a $6.00 price objective for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $5.00 target price on shares of Bitfarms in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $4.05.
Get Our Latest Analysis on BITF
Bitfarms Stock Performance
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 firm's fifty day moving average price is $1.95 and its 200-day moving average price is $2.13. The firm has a market cap of $706.58 million, a price-to-earnings ratio of -4.33 and a beta of 3.67.
Institutional Investors Weigh In On Bitfarms
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC acquired a new stake in Bitfarms during the 3rd quarter worth approximately $25,000. Lifeworks Advisors LLC purchased a new stake in shares of Bitfarms during the third quarter worth approximately $37,000. WINTON GROUP Ltd acquired a new stake in shares of Bitfarms during the second quarter worth $38,000. Chesapeake Capital Corp IL grew its position in Bitfarms by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company's stock valued at $50,000 after buying an additional 4,800 shares during the last quarter. Finally, HBW Advisory Services LLC acquired a new position in Bitfarms in the 3rd quarter valued at $63,000. Hedge funds and other institutional investors own 20.59% of the company's stock.
Bitfarms Company Profile
(
Get Free Report)
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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