Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) shares traded up 5.7% during trading on Monday . The stock traded as high as $2.05 and last traded at $2.04. Approximately 6,079,027 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 25,709,445 shares. The stock had previously closed at $1.93.
Wall Street Analyst Weigh In
BITF has been the subject of a number of recent analyst reports. Stifel Canada raised shares of Bitfarms from a "hold" rating to a "moderate buy" rating in a research note 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. HC Wainwright reiterated a "buy" rating and issued a $4.00 price objective on shares of Bitfarms in a report on Thursday, November 14th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $5.00 target price on shares of Bitfarms in a report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $4.05.
Check Out Our Latest Stock Analysis on BITF
Bitfarms Stock Performance
The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $951.16 million, a price-to-earnings ratio of -5.75 and a beta of 3.59. The stock has a fifty day moving average price of $2.06 and a 200-day moving average price of $2.27.
Institutional Trading of Bitfarms
Several hedge funds have recently modified their holdings of BITF. 272 Capital LP bought a new position in Bitfarms in the third quarter valued at about $222,000. Barclays PLC bought a new position in shares of Bitfarms in the 3rd quarter worth $161,000. Geode Capital Management LLC increased its holdings in Bitfarms by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,879,454 shares of the company's stock valued at $3,965,000 after purchasing an additional 81,760 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Bitfarms in the third quarter valued at about $201,000. Finally, XTX Topco Ltd bought a new position in Bitfarms during the 3rd quarter worth approximately $254,000. 20.59% of the stock is owned by institutional investors.
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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