Bitfarms Ltd. (NASDAQ:BITF - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $1.54, but opened at $1.59. Bitfarms shares last traded at $1.57, with a volume of 8,255,128 shares traded.
Wall Street Analysts Forecast Growth
BITF has been the subject of several recent research reports. HC Wainwright restated a "buy" rating and issued a $4.00 price objective on shares of Bitfarms in a report on Thursday, November 14th. Alliance Global Partners started coverage on Bitfarms in a research report on Wednesday, December 4th. They set a "buy" rating and a $6.00 price target on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $5.00 price target on shares of Bitfarms in a research note on Thursday, October 3rd. Finally, Stifel Canada raised shares of Bitfarms from a "hold" rating to a "moderate buy" rating in a research report 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. Based on data from MarketBeat, Bitfarms has an average rating of "Moderate Buy" and an average price target of $4.05.
View Our Latest Stock Analysis on Bitfarms
Bitfarms Stock Performance
The firm's fifty day simple moving average is $2.03 and its 200 day simple moving average is $2.22. The company has a market capitalization of $674.87 million, a PE ratio of -4.14 and a beta of 3.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.70 and a quick ratio of 3.68.
Institutional Trading of Bitfarms
Several hedge funds and other institutional investors have recently bought and sold shares of BITF. HighTower Advisors LLC purchased a new stake in shares of Bitfarms in the third quarter valued at approximately $25,000. Lifeworks Advisors LLC acquired a new position in shares of Bitfarms during the third quarter valued at approximately $37,000. WINTON GROUP Ltd acquired a new position in shares of Bitfarms during the second quarter valued at approximately $38,000. Chesapeake Capital Corp IL lifted its position in shares of Bitfarms by 27.9% in the third 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 in the last quarter. Finally, HBW Advisory Services LLC acquired a new stake in shares of Bitfarms in the third quarter worth approximately $63,000. 20.59% of the stock is owned by institutional investors and hedge funds.
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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