Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) was down 8.5% during trading on Tuesday . The stock traded as low as $1.16 and last traded at $1.14. Approximately 3,301,980 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 40,665,793 shares. The stock had previously closed at $1.24.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on BITF shares. Stifel Canada raised Bitfarms from a "hold" rating to a "moderate buy" rating in a research report on Friday, November 22nd. Alliance Global Partners started coverage on shares of Bitfarms in a report on Wednesday, December 4th. They set a "buy" rating and a $6.00 price target on the stock. Keefe, Bruyette & Woods began coverage on shares of Bitfarms in a research note on Wednesday, January 8th. They issued an "outperform" rating for the company. Finally, HC Wainwright restated a "buy" rating and set a $4.00 target price on shares of Bitfarms in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Bitfarms presently has an average rating of "Moderate Buy" and a consensus price target of $4.05.
Check Out Our Latest Stock Analysis on BITF
Bitfarms Price Performance
The company has a quick ratio of 3.68, a current ratio of 3.70 and a debt-to-equity ratio of 0.04. The firm's fifty day moving average price is $1.49 and its 200 day moving average price is $1.88. The stock has a market cap of $556.03 million, a PE ratio of -3.22 and a beta of 3.64.
Institutional Trading of Bitfarms
A number of institutional investors and hedge funds have recently bought and sold shares of BITF. HighTower Advisors LLC purchased a new position in shares of Bitfarms during the third quarter valued at about $25,000. Lifeworks Advisors LLC purchased a new position in Bitfarms during the 3rd quarter valued at approximately $37,000. Money Concepts Capital Corp purchased a new position in Bitfarms during the 4th quarter valued at approximately $30,000. Guided Capital Wealth Management LLC bought a new stake in Bitfarms in the 4th quarter worth approximately $30,000. Finally, National Bank of Canada FI raised its holdings in shares of Bitfarms by 2,629.2% during the 4th quarter. National Bank of Canada FI now owns 20,633 shares of the company's stock worth $31,000 after acquiring an additional 19,877 shares in the last quarter. 20.59% of the stock is currently owned by institutional investors.
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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