Bitfarms (NASDAQ:BITF – Get Free Report) is projected to announce its earnings results before the market opens on Thursday, March 6th. Analysts expect the company to announce earnings of ($0.04) per share and revenue of $54.22 million for the quarter.
Bitfarms Stock Down 5.2 %
Shares of Bitfarms stock opened at $1.10 on Tuesday. The stock’s fifty day moving average is $1.48 and its 200-day moving average is $1.86. The firm has a market capitalization of $527.27 million, a PE ratio of -3.06 and a beta of 3.64. The company has a quick ratio of 3.68, a current ratio of 3.70 and a debt-to-equity ratio of 0.04. Bitfarms has a 12-month low of $1.06 and a 12-month high of $3.28.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on BITF shares. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Bitfarms in a research report on Thursday, November 14th. Alliance Global Partners started coverage on Bitfarms in a research report on Wednesday, December 4th. They set a “buy” rating and a $6.00 target price on the stock. Keefe, Bruyette & Woods initiated coverage on Bitfarms in a research report on Wednesday, January 8th. They set an “outperform” rating on the stock. Finally, Stifel Canada upgraded Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bitfarms currently has an average rating of “Moderate Buy” and a consensus price target of $4.05.
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.
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