Bitfarms Ltd. (NASDAQ:BITF) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Bitfarms Ltd. (NASDAQ:BITF) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $4.05.

A number of research analysts recently commented on BITF shares. HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Bitfarms in a report on Thursday, November 14th. Keefe, Bruyette & Woods started coverage on Bitfarms in a report on Wednesday, January 8th. They issued an “outperform” rating for the company. Stifel Canada raised Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. Finally, Alliance Global Partners started coverage on Bitfarms in a report on Wednesday, December 4th. They issued a “buy” rating and a $6.00 price target for the company.

Bitfarms Trading Up 0.9 %

Shares of BITF opened at $1.15 on Thursday. The company has a market capitalization of $551.23 million, a P/E ratio of -3.19 and a beta of 3.68. Bitfarms has a one year low of $1.06 and a one year high of $3.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70. The stock has a 50-day moving average price of $1.42 and a 200 day moving average price of $1.81.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. HighTower Advisors LLC acquired a new stake in shares of Bitfarms during the 3rd quarter worth approximately $25,000. Money Concepts Capital Corp acquired a new stake in shares of Bitfarms during the 4th quarter worth approximately $30,000. Guided Capital Wealth Management LLC acquired a new stake in shares of Bitfarms during the 4th quarter worth approximately $30,000. National Bank of Canada FI raised its position in shares of Bitfarms by 2,629.2% during the 4th quarter. National Bank of Canada FI now owns 20,633 shares of the company’s stock worth $31,000 after purchasing an additional 19,877 shares during the period. Finally, Olympiad Research LP acquired a new stake in shares of Bitfarms during the 4th quarter worth approximately $36,000. Institutional investors own 20.59% of the company’s stock.

About Bitfarms

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.