Shares of Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) rose 4.3% during mid-day trading on Friday . The company traded as high as $2.20 and last traded at $2.20. Approximately 30,197,166 shares were traded during trading, an increase of 30% from the average daily volume of 23,265,359 shares. The stock had previously closed at $2.11.
Wall Street Analyst Weigh In
BITF has been the subject of several research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $5.00 target price on shares of Bitfarms in a research note on Thursday, October 3rd. HC Wainwright reissued a "buy" rating and issued a $4.00 price objective on shares of Bitfarms in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.66.
View Our Latest Report on BITF
Bitfarms Stock Up 6.6 %
The company has a market cap of $1.02 billion, a price-to-earnings ratio of -6.25 and a beta of 3.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.09 and a current ratio of 5.11. The stock's fifty day moving average is $2.04 and its two-hundred day moving average is $2.23.
Institutional Investors Weigh In On Bitfarms
Institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC grew its position in Bitfarms by 58.4% in the 1st quarter. Tidal Investments LLC now owns 6,975,538 shares of the company's stock worth $15,555,000 after purchasing an additional 2,571,647 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Bitfarms during the second quarter valued at approximately $4,016,000. Van ECK Associates Corp lifted its holdings in Bitfarms by 37.4% during the second quarter. Van ECK Associates Corp now owns 5,163,792 shares of the company's stock worth $13,271,000 after acquiring an additional 1,404,895 shares during the period. Weiss Asset Management LP boosted its position in Bitfarms by 173.6% in the third quarter. Weiss Asset Management LP now owns 1,582,934 shares of the company's stock worth $3,340,000 after purchasing an additional 1,004,400 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in Bitfarms by 51.4% in the 1st quarter. Vident Advisory LLC now owns 2,606,970 shares of the company's stock valued at $5,812,000 after purchasing an additional 885,217 shares during the period. Institutional investors 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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