HC Wainwright reaffirmed their buy rating on shares of Bitfarms (NASDAQ:BITF – Free Report) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $4.00 price objective on the stock.
Several other research analysts have also issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Bitfarms in a research note on Tuesday, June 11th. They issued an overweight rating and a $5.00 price target for the company. B. Riley decreased their price target on shares of Bitfarms from $4.00 to $3.00 and set a buy rating for the company in a research note on Friday, May 17th. Stifel Nicolaus lowered shares of Bitfarms from a speculative buy rating to a hold rating and decreased their price target for the stock from $3.25 to $2.30 in a research note on Thursday, May 30th. Finally, Northland Securities initiated coverage on shares of Bitfarms in a research note on Thursday, April 25th. They issued an outperform rating and a $4.00 price target for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Bitfarms presently has a consensus rating of Moderate Buy and an average target price of $3.88.
Read Our Latest Report on Bitfarms
Bitfarms Stock Up 3.3 %
Bitfarms (NASDAQ:BITF – Get Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Bitfarms had a negative net margin of 64.06% and a negative return on equity of 19.24%. The business had revenue of $50.32 million during the quarter, compared to analyst estimates of $50.51 million. Equities analysts expect that Bitfarms will post -0.21 earnings per share for the current year.
Institutional Trading of Bitfarms
Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Bitfarms during the 4th quarter valued at about $29,000. Pasadena Private Wealth LLC purchased a new stake in shares of Bitfarms during the 4th quarter valued at about $34,000. VitalStone Financial LLC purchased a new stake in shares of Bitfarms during the 1st quarter valued at about $37,000. Shell Asset Management Co. purchased a new stake in shares of Bitfarms during the 1st quarter valued at about $43,000. Finally, Sloy Dahl & Holst LLC purchased a new stake in shares of Bitfarms during the 4th quarter valued at about $44,000. 20.59% of the stock is currently owned by institutional investors.
Bitfarms Company Profile
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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