Bitfarms (NASDAQ:BITF) Stock Price Down 5.5% - Time to Sell?

Bitfarms Ltd. (NASDAQ:BITF - Get Free Report)'s share price was down 5.5% during trading on Tuesday . The stock traded as low as $3.10 and last traded at $3.10. Approximately 91,449,714 shares changed hands during mid-day trading, an increase of 100% from the average daily volume of 45,816,898 shares. The stock had previously closed at $3.28.Analyst Upgrades and DowngradesThese 3 Crypto Stocks Could Get a Bump as Dollar Trust WeakensA number of equities research analysts have recently commented on BITF shares. Northland Securities set a $7.00 price objective on shares of Bitfarms in a research note on Monday, October 13th. Wall Street Zen lowered shares of Bitfarms from a "hold" rating to a "sell" rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bitfarms in a research report on Wednesday, October 8th. B. Riley reissued a "buy" rating on shares of Bitfarms in a research note on Wednesday, October 22nd. Finally, Cantor Fitzgerald raised their target price on Bitfarms from $2.20 to $5.00 and gave the company an "overweight" rating in a research report on Friday, November 14th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $4.54.Read Our Latest Analysis on BITFBitfarms Price PerformanceCrypto Miners Strike Gold in AI: Stocks to Watch The company has a 50-day moving average of $3.64 and a 200 day moving average of $2.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.14 and a current ratio of 3.20. Bitfarms (NASDAQ:BITF - Get Free Report) last announced its earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). Bitfarms had a negative net margin of 48.26% and a negative return on equity of 4.48%. The company had revenue of $69.25 million for the quarter, compared to analysts' expectations of $84.66 million. As a group, equities analysts predict that Bitfarms Ltd. will post -0.21 EPS for the current year. Institutional Trading of BitfarmsBeyond the Halving: The Future of Bitcoin Mining StocksLarge investors have recently bought and sold shares of the business. Swiss Life Asset Management Ltd acquired a new stake in Bitfarms in the 3rd quarter valued at about $56,000. Caitong International Asset Management Co. Ltd grew its position in shares of Bitfarms by 5,321,100.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 53,212 shares of the company's stock valued at $150,000 after purchasing an additional 53,211 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Bitfarms in the third quarter valued at approximately $1,025,000. Polymer Capital Management HK LTD acquired a new stake in shares of Bitfarms in the third quarter valued at approximately $113,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of Bitfarms in the third quarter valued at approximately $423,000. Hedge funds and other institutional investors own 20.59% of the company's stock. About Bitfarms (Get Free Report)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.Featured ArticlesFive stocks we like better than BitfarmsHow to trade using analyst ratingsCheckmate in the Cloud: ServiceNow's Shopping SpreeThe 3 Best Blue-Chip Stocks to Buy NowThe Contrarian Case for MSTR Amid MSCI Delisting DebacleStocks with Unusual Volume: How to Find Unusual Volume Stocks in Real TimeWorried About Mag 7 Concentration Risk? This ETF Could HelpThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Bitfarms Right Now?Before you consider Bitfarms, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bitfarms wasn't on the list.While Bitfarms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here