Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.31 and last traded at $1.38, with a volume of 2648256 shares traded. The stock had previously closed at $1.45.
Analyst Ratings Changes
BITF has been the topic of a number of analyst reports. Alliance Global Partners started coverage on Bitfarms in a research note on Wednesday, December 4th. They set a "buy" rating and a $6.00 target price on the stock. Stifel Canada upgraded Bitfarms from a "hold" rating to a "moderate buy" rating in a research note on Friday, November 22nd. Keefe, Bruyette & Woods assumed coverage on shares of Bitfarms in a report on Wednesday, January 8th. They issued an "outperform" rating on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $4.00 price target on shares of Bitfarms in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $4.05.
View Our Latest Analysis on BITF
Bitfarms Stock Performance
The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70. The firm's fifty day moving average price is $1.73 and its 200 day moving average price is $2.00. The firm has a market cap of $638.63 million, a P/E ratio of -3.92 and a beta of 3.65.
Institutional Trading of Bitfarms
A number of hedge funds have recently bought and sold shares of BITF. HighTower Advisors LLC bought a new position in shares of Bitfarms in the 3rd quarter worth $25,000. Lifeworks Advisors LLC bought a new position in Bitfarms in the third quarter worth about $37,000. Money Concepts Capital Corp purchased a new stake in shares of Bitfarms during the fourth quarter valued at about $30,000. Guided Capital Wealth Management LLC purchased a new stake in shares of Bitfarms during the fourth quarter valued at about $30,000. Finally, Chesapeake Capital Corp IL boosted its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 20.59% of the company's stock.
About Bitfarms
(
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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