Bitfarms (BFARF) Receives a New Rating from H.C. Wainwright
H.C. Wainwright analyst Kevin Dede initiated coverage with a Buy rating on Bitfarms (BFARF) today and set a price target of C$6.00. The company’s shares closed last Friday at $3.47.
According to TipRanks.com, Dede is a 5-star analyst with an average return of 34.3% and a 47.6% success rate. Dede covers the Technology sector, focusing on stocks such as Summit Wireless Technologies, Voyager Digital (Canada), and POET Technologies.
Bitfarms has an analyst consensus of Moderate Buy, with a price target consensus of $4.75.
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Bitfarms’ market cap is currently $391.4M and has a P/E ratio of -28.90. The company has a Price to Book ratio of 14.59.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is neutral on the stock.
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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.