Bitfarms (NASDAQ:BITF – Get Free Report) will likely be releasing its earnings data before the market opens on Thursday, March 6th. Analysts expect Bitfarms to post earnings of ($0.04) per share and revenue of $54.22 million for the quarter.
Bitfarms Stock Performance
BITF stock opened at $1.13 on Thursday. 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 twelve month low of $1.09 and a twelve month high of $3.91. The company has a market cap of $541.65 million, a P/E ratio of -3.14 and a beta of 3.64. The business has a fifty day moving average of $1.52 and a 200-day moving average of $1.89.
Analysts Set New Price Targets
Several analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Bitfarms in a report on Thursday, November 14th. Alliance Global Partners started coverage on shares of Bitfarms in a research note on Wednesday, December 4th. They set a “buy” rating and a $6.00 price target for the company. Keefe, Bruyette & Woods assumed coverage on shares of Bitfarms in a research note on Wednesday, January 8th. They issued an “outperform” rating on the stock. Finally, Stifel Canada raised shares of Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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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