Bitfarms (NASDAQ:BITF - Get Free Report)'s stock had its "sell (d-)" rating restated by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.
A number of other equities analysts have also recently issued reports on BITF. Jones Trading started coverage on shares of Bitfarms in a research note on Monday, July 21st. They issued a "buy" rating and a $2.00 price target on the stock. Wall Street Zen raised shares of Bitfarms from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Compass Point started coverage on shares of Bitfarms in a report on Monday, September 15th. They issued a "buy" rating for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $3.69.
Get Our Latest Research Report on Bitfarms
Bitfarms Trading Up 15.3%
Shares of NASDAQ BITF traded up $0.53 during mid-day trading on Wednesday, hitting $4.00. The stock had a trading volume of 114,931,110 shares, compared to its average volume of 34,903,895. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.03 and a current ratio of 3.11. Bitfarms has a 1 year low of $0.67 and a 1 year high of $4.04. The business has a 50 day moving average price of $1.88 and a two-hundred day moving average price of $1.28. The firm has a market cap of $2.25 billion, a P/E ratio of -23.53 and a beta of 3.73.
Bitfarms (NASDAQ:BITF - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Bitfarms had a negative return on equity of 9.86% and a negative net margin of 35.09%.The firm had revenue of $77.80 million during the quarter, compared to analysts' expectations of $79.78 million. On average, equities analysts anticipate that Bitfarms will post -0.21 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Baader Bank Aktiengesellschaft boosted its position in shares of Bitfarms by 390.4% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 143,505 shares of the company's stock valued at $121,000 after acquiring an additional 114,245 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Bitfarms by 28.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,493,643 shares of the company's stock valued at $4,316,000 after acquiring an additional 1,223,201 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Bitfarms by 52.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,808,165 shares of the company's stock valued at $3,002,000 after acquiring an additional 1,306,212 shares during the last quarter. Vident Advisory LLC boosted its position in shares of Bitfarms by 10.4% during the 1st quarter. Vident Advisory LLC now owns 6,686,681 shares of the company's stock valued at $5,279,000 after acquiring an additional 628,603 shares during the last quarter. Finally, Continental General Insurance Co. bought a new position in shares of Bitfarms during the 1st quarter valued at approximately $2,124,000. 20.59% of the stock is currently 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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