In a report released today, Joe Flynn from Compass Point reiterated a Buy rating on Bitfarms (BITF – Research Report), with a price target of $7.00. The company’s shares closed last Friday at $2.67.
According to TipRanks, Flynn is ranked #5128 out of 8733 analysts.
Bitfarms has an analyst consensus of Strong Buy, with a price target consensus of $4.45, which is a 66.67% upside from current levels. In a report released on March 8, Cantor Fitzgerald also maintained a Buy rating on the stock with a $4.00 price target.
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The company has a one-year high of $3.91 and a one-year low of $0.75. Currently, Bitfarms has an average volume of 30.26M.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BITF in relation to earlier this year.
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Bitfarms (BITF) Company Description:
Bitfarms Ltd owns and operates blockchain farms that power the global decentralized financial economy. It provides computing power to cryptocurrency networks such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash, earning fees from each network for securing and processing transactions. Bitfarms also provides computing power to cryptocurrency networks.
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