Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.50 and last traded at $1.53, with a volume of 7808688 shares. The stock had previously closed at $1.63.
Analyst Ratings Changes
BITF has been the subject of several research analyst reports. Alliance Global Partners started coverage on shares of Bitfarms in a research report on Wednesday, December 4th. They set a "buy" rating and a $6.00 price target for the company. Stifel Canada raised Bitfarms from a "hold" rating to a "moderate buy" rating in a research report on Friday, November 22nd. HC Wainwright reiterated a "buy" rating and issued a $4.00 target price on shares of Bitfarms in a report on Thursday, November 14th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $5.00 price target on shares of Bitfarms in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $4.05.
Check Out Our Latest Research Report on BITF
Bitfarms Price Performance
The company's fifty day moving average is $2.04 and its two-hundred day moving average is $2.23. 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 has a market cap of $697.52 million, a price-to-earnings ratio of -4.28 and a beta of 3.59.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC acquired a new position in shares of Bitfarms during the third quarter worth $25,000. Lifeworks Advisors LLC purchased a new stake in Bitfarms during the 3rd quarter worth $37,000. WINTON GROUP Ltd purchased a new stake in Bitfarms during the 2nd quarter worth $38,000. Chesapeake Capital Corp IL lifted its holdings in Bitfarms by 27.9% in the 3rd 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 in the last quarter. Finally, HBW Advisory Services LLC purchased a new position in Bitfarms in the 3rd quarter valued at about $63,000. Institutional investors and hedge funds 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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