2 weeks Ago By ABMN Staff
Bitfarms Ltd. ( NASDAQ:BITF – Get Free Report )’s stock price gapped up before the market opened on Friday . The stock had previously closed at $2.
20, but opened at $2.27. Bitfarms shares last traded at $2.
24, with a volume of 2,587,444 shares traded. Wall Street Analyst Weigh In Several equities analysts have recently issued reports on BITF shares. HC Wainwright reaffirmed a “buy” rating and set a $4.
00 price target on shares of Bitfarms in a research note on Monday, September 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price target on shares of Bitfarms in a research note on Tuesday, September 3rd.
One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3.
66. View Our Latest Research Report on BITF Bitfarms Trading Up 2.3 % Bitfarms ( NASDAQ:BITF – Get Free Report ) last released its quarterly earnings results on Thursday, August 8th.
The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.
04. Bitfarms had a negative net margin of 62.79% and a negative return on equity of 18.
94%. The company had revenue of $41.55 million for the quarter, compared to analyst estimates of $44.
59 million. As a group, equities research analysts predict that Bitfarms Ltd. will post -0.
29 earnings per share for the current year. Institutional Investors Weigh In On Bitfarms A number of hedge funds and other institutional investors have recently bought and sold shares of BITF. Cetera Investment Advisers lifted its holdings in Bitfarms by 42.
7% during the 2nd quarter. Cetera Investment Advisers now owns 999,783 shares of the company’s stock worth $2,579,000 after purchasing an additional 299,273 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Bitfarms by 67.
3% during the 2nd quarter. Mackenzie Financial Corp now owns 153,189 shares of the company’s stock worth $395,000 after acquiring an additional 61,624 shares during the period. K2 Principal Fund L.
P. purchased a new stake in Bitfarms in the 2nd quarter worth approximately $816,000. Marshall Wace LLP purchased a new stake in shares of Bitfarms in the 2nd quarter valued at about $4,016,000.
Finally, WINTON GROUP Ltd purchased a new position in shares of Bitfarms during the second quarter worth about $38,000. Institutional investors own 20.59% of the company’s stock.
Bitfarms Company Profile ( 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. Read More Receive News & Ratings for Bitfarms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bitfarms and related companies with MarketBeat.com's FREE daily email newsletter .
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