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

Bitfarms (TSE:BITF) had its price objective lowered by research analysts at ATB Capital from C$7.00 to C$6.50 in a research note issued on Thursday,BayStreet.CA reports. ATB Capital’s price objective would indicate a potential upside of 105.05% from the company’s previous close.

Bitfarms Stock Up 6.7 %

BITF stock opened at C$3.17 on Thursday. Bitfarms has a one year low of C$1.37 and a one year high of C$5.25. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.63 and a current ratio of 5.11. The company has a fifty day moving average of C$2.79 and a 200-day moving average of C$3.05. The stock has a market capitalization of C$1.44 billion, a PE 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.