Bitfarms (NASDAQ:BITF – Get Free Report) is anticipated to issue its quarterly earnings data 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 Price Performance
Bitfarms stock opened at $1.14 on Wednesday. The firm has a market cap of $546.44 million, a PE ratio of -3.17 and a beta of 3.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.70 and a quick ratio of 3.68. The stock’s fifty day moving average price is $1.47 and its two-hundred day moving average price is $1.85. Bitfarms has a one year low of $1.06 and a one year high of $3.28.
Wall Street Analyst Weigh In
BITF has been the topic of a number of recent analyst reports. Stifel Canada upgraded Bitfarms from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 22nd. Alliance Global Partners initiated coverage on shares of Bitfarms in a report on Wednesday, December 4th. They issued a “buy” rating and a $6.00 target price on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Bitfarms in a report on Wednesday, January 8th. They set an “outperform” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Bitfarms in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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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