Shares of Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $1.69, but opened at $1.64. Bitfarms shares last traded at $1.66, with a volume of 15,812,458 shares trading hands.
Analyst Ratings Changes
BITF has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $5.00 target price on shares of Bitfarms in a report on Thursday, October 3rd. Alliance Global Partners initiated coverage on Bitfarms in a research note on Wednesday, December 4th. They issued a "buy" rating and a $6.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and set a $4.00 price objective on shares of Bitfarms in a research note on Thursday, November 14th. Finally, Stifel Canada upgraded shares of Bitfarms from a "hold" rating to a "moderate buy" rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Bitfarms has an average rating of "Moderate Buy" and a consensus price target of $4.05.
Check Out Our Latest Stock Analysis on BITF
Bitfarms Stock Performance
The business has a 50 day moving average price of $2.07 and a two-hundred day moving average price of $2.25. The stock has a market cap of $760.93 million, a P/E ratio of -4.67 and a beta of 3.59. The company has a quick ratio of 3.68, a current ratio of 3.70 and a debt-to-equity ratio of 0.04.
Institutional Investors Weigh In On Bitfarms
Several institutional investors and hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC purchased a new stake in shares of Bitfarms in the third quarter worth about $25,000. Lifeworks Advisors LLC bought a new stake in Bitfarms in the 3rd quarter worth approximately $37,000. WINTON GROUP Ltd purchased a new stake in shares of Bitfarms during the 2nd quarter worth approximately $38,000. Chesapeake Capital Corp IL boosted its position in shares of Bitfarms by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company's stock valued at $50,000 after acquiring an additional 4,800 shares during the last quarter. Finally, HBW Advisory Services LLC bought a new position in shares of Bitfarms during the 3rd quarter valued at approximately $63,000. 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.
See Also
Before you consider Bitfarms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bitfarms wasn't on the list.
While Bitfarms currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
