Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) shares hit a new 52-week low on Thursday . The stock traded as low as $1.09 and last traded at $1.10, with a volume of 22131951 shares. The stock had previously closed at $1.13.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on BITF shares. Keefe, Bruyette & Woods started coverage on Bitfarms in a report on Wednesday, January 8th. They issued an "outperform" rating for the company. Alliance Global Partners started coverage on Bitfarms in a report on Wednesday, December 4th. They issued a "buy" rating and a $6.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $4.00 price objective on shares of Bitfarms in a report on Thursday, November 14th. Finally, Stifel Canada raised Bitfarms from a "hold" rating to a "moderate buy" rating in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $4.05.
Read Our Latest Stock Analysis on Bitfarms
Bitfarms Stock Down 5.2 %
The stock has a 50-day moving average of $1.48 and a two-hundred day moving average of $1.86. The company has a market cap of $527.27 million, a P/E ratio of -3.06 and a beta of 3.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70.
Institutional Trading of Bitfarms
Hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in Bitfarms by 106.6% in the 4th quarter. Van ECK Associates Corp now owns 12,553,729 shares of the company's stock worth $18,705,000 after buying an additional 6,477,985 shares during the last quarter. Geode Capital Management LLC increased its stake in Bitfarms by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,879,454 shares of the company's stock worth $3,965,000 after purchasing an additional 81,760 shares during the period. Barclays PLC purchased a new position in Bitfarms in the 3rd quarter worth approximately $161,000. State Street Corp increased its stake in Bitfarms by 1.3% in the 3rd quarter. State Street Corp now owns 4,917,729 shares of the company's stock worth $10,376,000 after purchasing an additional 63,916 shares during the period. Finally, Baader Bank Aktiengesellschaft increased its stake in Bitfarms by 245.8% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 700,300 shares of the company's stock worth $1,043,000 after purchasing an additional 497,789 shares during the period. 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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