Bitfarms Ltd. (NASDAQ:BITF – Get Free Report)’s share value traded up 4.9% on Wednesday . The corporate traded as excessive as $2.36 and final traded at $2.35. 6,492,527 shares had been traded throughout buying and selling, a decline of 75% from the typical session quantity of 26,285,068 shares. The inventory had beforehand closed at $2.24.
Analysts Set New Worth Targets
Plenty of analysis analysts not too long ago weighed in on the inventory. Cantor Fitzgerald elevated their value goal on shares of Bitfarms from $2.00 to $3.00 and gave the corporate an “obese” score in a analysis report on Thursday, January twenty fifth. HC Wainwright reaffirmed a “purchase” score and set a $4.00 goal value on shares of Bitfarms in a report on Wednesday, March thirteenth. Lastly, B. Riley reaffirmed a “purchase” score and set a $4.00 goal value on shares of Bitfarms in a report on Thursday, December 14th. 5 funding analysts have rated the inventory with a purchase score, Primarily based on information from MarketBeat, Bitfarms presently has a mean score of “Purchase” and a consensus value goal of $4.00.
Read Our Latest Research Report on Bitfarms
Bitfarms Trading Up 11.2 %
The agency has a market capitalization of $832.03 million, a PE ratio of -6.38 and a beta of three.71. The corporate has a fast ratio of 1.88, a present ratio of 1.88 and a debt-to-equity ratio of 0.04. The inventory’s fifty day easy shifting common is $2.63 and its 200 day easy shifting common is $1.97.
Bitfarms (NASDAQ:BITF – Get Free Report) final introduced its quarterly earnings information on Thursday, March seventh. The corporate reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The agency had income of $46.24 million throughout the quarter, in comparison with analysts’ expectations of $39.68 million. Bitfarms had a unfavorable internet margin of 70.53% and a unfavorable return on fairness of 19.58%. Throughout the identical interval within the prior 12 months, the corporate posted ($0.07) earnings per share. On common, sell-side analysts predict that Bitfarms Ltd. will publish -0.17 earnings per share for the present 12 months.
Institutional Trading of Bitfarms
Plenty of hedge funds and different institutional traders have not too long ago modified their holdings of BITF. Citigroup Inc. elevated its stake in shares of Bitfarms by 21.9% within the first quarter. Citigroup Inc. now owns 78,238 shares of the corporate’s inventory price $295,000 after buying an extra 14,045 shares within the final quarter. Vontobel Holding Ltd. bought a brand new stake in shares of Bitfarms within the first quarter price $51,000. XTX Topco Ltd bought a brand new stake in shares of Bitfarms within the first quarter price $57,000. Invesco Ltd. elevated its stake in shares of Bitfarms by 56.1% within the first quarter. Invesco Ltd. now owns 13,039,797 shares of the corporate’s inventory price $48,900,000 after buying an extra 4,687,086 shares within the final quarter. Lastly, Vident Funding Advisory LLC grew its stake in Bitfarms by 130.9% throughout the first quarter. Vident Funding Advisory LLC now owns 598,085 shares of the corporate’s inventory valued at $2,248,000 after buying an extra 339,009 shares within the final quarter. 15.31% of the inventory is owned by hedge funds and different institutional traders.
Bitfarms Firm Profile
Bitfarms Ltd. engages within the mining of cryptocurrency cash and tokens in Canada, the US, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and incomes cryptocurrency from block rewards and transaction charges. The corporate additionally gives electrician companies to business and residential clients in Quebec, Canada.
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Bitfarms (NASDAQ:BITF) Trading Up 4.9% www.marketbeat.com 2024-03-20 20:09:11
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