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Do Analysts Expect Bitfarms Ltd (BITF) Stock to Rise After It Has Fallen -27.25% in a Month?

Friday, January 21, 2022 10:44 AM | InvestorsObserver Analysts
Do Analysts Expect Bitfarms Ltd (BITF) Stock to Rise After It Has Fallen -27.25% in a Month?

InvestorsObserver is giving Bitfarms Ltd (BITF) an Analyst Rating Rank of 74, meaning BITF is ranked higher by analysts than 74% of stocks. The average price target for BITF is $10 and analyst’s rate the stock as a Strong Buy.

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?

Analysts know the inner workings of the companies they follow better than anyone but the companies’ management. You can learn a lot about a company from studying the financial statements, but analysts ask questions on conference calls and understand the intricacies of each of the businesses they cover. Analysts understand how bad weather in one part of the world can disrupt supply chains, or disrupt shopping patterns. This lets traders make decisions **before** a quarterly report that could be worse than expected. InvestorsObserver aggregates the ratings of all the analysts covering a given stock, takes the average of those ratings and then percentile ranks the averages. That provides a level of granularity that is significantly better than just the three levels provided by traditional buy/hold/sell ratings.

What's Happening With Bitfarms Ltd Stock Today?

Bitfarms Ltd (BITF) stock is trading at $3.71 as of 10:43 AM on Friday, Jan 21, a decline of -$0.45, or -10.94% from the previous closing price of $4.16. The stock has traded between $3.49 and $3.91 so far today. Volume today is light. So far 4,349,518 shares have traded compared to average volume of 6,260,674 shares. Click Here to get the full Stock Report for Bitfarms Ltd stock.

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