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

Bitfarms (TSE:BITF) had its target price dropped by equities research analysts at ATB Capital from C$7.00 to C$6.50 in a note issued to investors on Thursday,BayStreet.CA reports. ATB Capital’s price objective indicates a potential upside of 105.05% from the stock’s current price.

Bitfarms Stock Up 6.7 %

BITF stock opened at C$3.17 on Thursday. The stock has a market capitalization of C$1.44 billion, a price-to-earnings ratio of -6.34 and a beta of 3.20. The company has a 50-day moving average of C$2.79 and a two-hundred day moving average of C$3.05. Bitfarms has a 52-week low of C$1.37 and a 52-week high of C$5.25. The company has a debt-to-equity ratio of 3.35, a current ratio of 5.11 and a quick ratio of 0.63.

Bitfarms Company Profile

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.