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Analyst Rating: Will Bitfarms Ltd (BITF) Stock Do Better Than the Market?

Thursday, December 02, 2021 01:20 PM | InvestorsObserver Analysts
Analyst Rating: Will Bitfarms Ltd (BITF) Stock Do Better Than the Market?

Wall Street is positive on Bitfarms Ltd (BITF). On average, analysts give Bitfarms Ltd a Strong Buy rating. The average price target is $10, which means analysts expect the stock to increase by 41.24% over the next twelve months. That average ranking earns Bitfarms Ltd an Analyst Rating of 74, which is better than 74% of stocks based on data compiled by InvestorsObserver.

Overall Score - 5
Wall Street analysts are rating BITF a Strong Buy today. Find out what this means to you and get the rest of the rankings on BITF!

Why are Analyst Ratings Important?

Though analyst projections should not be your only resource when determining your position on a stock, it can be a very useful tool. Analysts follow sectors/industries in-depth and tend to know how local and global conditions tend to affect demand and prices. Many analysts even participate in conference calls where they can get information to better make sense of the numbers. InvestorsObserver averages the ratings provided by analysts and then ranks their score as a percent against the market. This allows you to compare stocks in a more comprehensive fashion than with the typical buy/sell/hold ranking.

What's Happening With Bitfarms Ltd Stock Today?

Bitfarms Ltd (BITF) stock is trading at $7.08 as of 1:19 PM on Thursday, Dec 2, a drop of -$0.53, or -6.91% from the previous closing price of $7.60. The stock has traded between $7.07 and $7.65 so far today. Volume today is less active than usual. So far 5,406,661 shares have traded compared to average volume of 9,533,731 shares. Click Here to get the full Stock Report for Bitfarms Ltd stock.

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