Shares of Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $1.24, but opened at $1.17. Bitfarms shares last traded at $1.14, with a volume of 5,498,291 shares trading hands.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods began coverage on shares of Bitfarms in a research report on Wednesday, January 8th. They issued an "outperform" rating for the company. HC Wainwright restated a "buy" rating and issued a $4.00 target price on shares of Bitfarms in a report on Thursday, November 14th. Alliance Global Partners assumed coverage on Bitfarms in a report on Wednesday, December 4th. They set a "buy" rating and a $6.00 price target on the stock. Finally, Stifel Canada raised Bitfarms from a "hold" rating to a "moderate buy" rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $4.05.
View Our Latest Research Report on Bitfarms
Bitfarms Trading Up 2.7 %
The business's 50-day simple moving average is $1.43 and its 200-day simple moving average is $1.81. The company has a market cap of $546.44 million, a PE ratio of -3.17 and a beta of 3.68. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC purchased a new stake in shares of Bitfarms during the 3rd quarter worth about $25,000. Money Concepts Capital Corp bought a new position in Bitfarms during the fourth quarter valued at approximately $30,000. Guided Capital Wealth Management LLC acquired a new stake in Bitfarms in the fourth quarter valued at approximately $30,000. National Bank of Canada FI grew its position in Bitfarms by 2,629.2% in the fourth 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. Finally, Olympiad Research LP acquired a new position in shares of Bitfarms during the 4th quarter worth $36,000. Hedge funds and other 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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