Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $1.86, but opened at $1.81. Bitfarms shares last traded at $1.73, with a volume of 4,355,372 shares trading hands.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $4.00 price target on shares of Bitfarms in a research note on Monday, September 23rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $5.00 target price on shares of Bitfarms in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bitfarms currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.66.
Check Out Our Latest Report on BITF
Bitfarms Trading Down 7.0 %
The company has a current ratio of 5.11, a quick ratio of 5.09 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $783.38 million, a PE ratio of -4.93 and a beta of 3.64. The stock has a 50 day moving average price of $2.02 and a 200-day moving average price of $2.22.
Bitfarms (NASDAQ:BITF - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. The business had revenue of $41.55 million during the quarter, compared to the consensus estimate of $44.59 million. Bitfarms had a negative return on equity of 18.94% and a negative net margin of 62.79%. Sell-side analysts expect that Bitfarms Ltd. will post -0.3 earnings per share for the current year.
Institutional Investors Weigh In On Bitfarms
Large investors have recently made changes to their positions in the company. VitalStone Financial LLC purchased a new position in shares of Bitfarms during the 1st quarter valued at about $37,000. Swiss National Bank purchased a new position in shares of Bitfarms during the 1st quarter valued at about $1,426,000. Shell Asset Management Co. purchased a new position in shares of Bitfarms during the 1st quarter valued at about $43,000. Vident Advisory LLC lifted its position in shares of Bitfarms by 51.4% during the 1st quarter. Vident Advisory LLC now owns 2,606,970 shares of the company's stock valued at $5,812,000 after buying an additional 885,217 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Bitfarms during the 1st quarter valued at about $1,640,000. 20.59% of the stock is currently owned by institutional investors.
About Bitfarms
(
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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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