Bitfarms (TSE:BITF) PT Set at C$6.50 by ATB Capital

Bitfarms (TSE:BITF) has been assigned a C$6.50 price target by ATB Capital in a note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Capital’s price target indicates a potential upside of 121.09% from the stock’s previous close.

Bitfarms Stock Performance

BITF opened at C$2.94 on Monday. The stock has a market cap of C$982.40 million, a P/E ratio of -5.44 and a beta of 3.40. The company has a debt-to-equity ratio of 6.74, a current ratio of 1.88 and a quick ratio of 0.63. The stock’s 50 day simple moving average is C$3.53 and its 200 day simple moving average is C$2.76. Bitfarms has a 1-year low of C$1.15 and a 1-year high of C$5.25.

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.