Bitfarms Ltd. (NASDAQ:BITF - Get Free Report)'s stock price was down 6.9% on Monday . The stock traded as low as $1.88 and last traded at $1.88. Approximately 13,743,027 shares traded hands during trading, a decline of 37% from the average daily volume of 21,904,451 shares. The stock had previously closed at $2.02.
Analyst Ratings Changes
BITF has been the subject of a number of research reports. Cantor Fitzgerald restated an "overweight" rating and set a $5.00 target price on shares of Bitfarms in a research report on Thursday. HC Wainwright restated a "buy" rating and set a $4.00 price objective on shares of Bitfarms in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $3.66.
Get Our Latest Report on Bitfarms
Bitfarms Stock Performance
The company has a market capitalization of $773.59 million, a PE ratio of -4.97 and a beta of 3.63. 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 simple moving average is $2.16 and its 200-day simple moving average is $2.24.
Bitfarms (NASDAQ:BITF - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. The business had revenue of $41.55 million for the quarter, compared to the consensus estimate of $44.59 million. Bitfarms had a negative net margin of 62.79% and a negative return on equity of 18.94%. As a group, equities analysts predict that Bitfarms Ltd. will post -0.29 earnings per share for the current year.
Institutional Investors Weigh In On Bitfarms
Several hedge funds have recently made changes to their positions in BITF. Evanson Asset Management LLC lifted its position in Bitfarms by 58.1% during the first quarter. Evanson Asset Management LLC now owns 28,456 shares of the company's stock worth $63,000 after buying an additional 10,457 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Bitfarms in the second quarter worth approximately $38,000. VitalStone Financial LLC purchased a new stake in Bitfarms in the first quarter valued at approximately $37,000. Shell Asset Management Co. purchased a new stake in Bitfarms in the first quarter valued at approximately $43,000. Finally, CCG Wealth Management LLC purchased a new position in Bitfarms during the first quarter worth approximately $50,000. Institutional investors and hedge funds own 20.59% of the company's stock.
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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