ATB Capital Cuts Bitfarms (TSE:BITF) Price Target to C$6.50

Bitfarms (TSE:BITF) had its target price cut by ATB Capital from C$7.00 to C$6.50 in a research note published on Thursday morning,BayStreet.CA reports.

Bitfarms Trading Up 6.7 %

Shares of BITF stock opened at C$3.17 on Thursday. The stock has a 50 day simple moving average of C$2.81 and a 200 day simple moving average of C$3.06. Bitfarms has a 1 year low of C$1.37 and a 1 year high of C$5.25. The company has a current ratio of 5.11, a quick ratio of 0.63 and a debt-to-equity ratio of 3.35. The stock has a market cap of C$1.44 billion, a P/E ratio of -6.34 and a beta of 3.20.

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.