Bitfarms Ltd. (NASDAQ:BITF) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus: Nine brokerages rate Bitfarms a "Moderate Buy" (7 buys, 1 hold, 1 sell) with an average 12‑month price target of $4.14.
• Institutional activity: Several large funds (Voya, Thames Capital, Azora, Aurelius, Arete) initiated positions in Q3, and institutional investors now own about 20.59% of the shares.
• Stock & valuation snapshot: BITF opened at $2.88, trades between a 1‑year low/high of $0.67–$6.60 with 50/200‑day MAs of $2.21/$2.83, a market cap of $1.74 billion, a negative P/E, and a high beta (3.77) indicating elevated volatility.

Shares of Bitfarms Ltd. (NASDAQ:BITF - Get Free Report) have received an average rating of "Moderate Buy" from the nine brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $4.14.

A number of research firms have recently weighed in on BITF. Weiss Ratings restated a "sell (d-)" rating on shares of Bitfarms in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $3.00 price target (up from $2.50) on shares of Bitfarms in a research note on Tuesday, January 27th. Finally, HC Wainwright reduced their price target on shares of Bitfarms from $4.00 to $3.70 and set a "buy" rating on the stock in a research note on Tuesday, March 31st.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC bought a new position in Bitfarms in the 3rd quarter valued at approximately $2,349,000. Thames Capital Management LLC bought a new position in Bitfarms in the 3rd quarter valued at approximately $19,834,000. Azora Capital LP bought a new position in Bitfarms in the 3rd quarter valued at approximately $11,545,000. Aurelius Capital Management LP bought a new position in Bitfarms in the 3rd quarter valued at approximately $18,999,000. Finally, Arete Wealth Advisors LLC bought a new position in Bitfarms in the 3rd quarter valued at approximately $1,030,000. Institutional investors own 20.59% of the company's stock.

Bitfarms Stock Performance

BITF opened at $2.88 on Wednesday. The company's 50 day moving average is $2.21 and its 200-day moving average is $2.83. Bitfarms has a 1-year low of $0.67 and a 1-year high of $6.60. The company has a current ratio of 3.20, a quick ratio of 3.14 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.74 billion, a P/E ratio of -12.52 and a beta of 3.77.

About Bitfarms

Bitfarms Ltd. is a publicly traded, vertically integrated Bitcoin mining company listed on the NASDAQ under the ticker BITF. The company engages in the large-scale operation of cryptocurrency mining farms, leveraging specialized computing hardware to validate and secure the Bitcoin blockchain. By converting electrical energy into computing power, Bitfarms plays a critical role in processing transactions on the Bitcoin network and earning mining rewards.

Bitfarms operates data centers in several jurisdictions with access to low-cost, primarily renewable energy sources.

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