Wed Feb 26 12:30:00 UTC 2025: ## Bitfarms Stock Dips Despite Positive Analyst Ratings

**Sioux Falls, SD – January 17, 2025** – Shares of Bitfarms Ltd. (NASDAQ: BITF) experienced a significant drop of 8.5% on Tuesday, closing at $1.14 after trading as low as $1.16. Trading volume was considerably lower than average, at 3,301,980 shares, a 92% decrease from the daily average. This follows a previous close of $1.24.

Despite the downturn, several analysts maintain a positive outlook on Bitfarms. Stifel Canada upgraded the stock to a “moderate buy,” while Alliance Global Partners initiated coverage with a “buy” rating and a $6.00 price target. Keefe, Bruyette & Woods also issued an “outperform” rating, and HC Wainwright reiterated its “buy” rating with a $4.00 price target. Currently, six analysts rate Bitfarms as a “buy,” with only one issuing a “hold” rating. MarketBeat’s consensus rating is “Moderate Buy,” with a target price of $4.05.

Bitfarms, a cryptocurrency mining company with operations in North and South America, has a market cap of $541.64 million. Recent institutional investor activity includes increased holdings by National Bank of Canada FI and new positions from several smaller firms. However, MarketBeat notes that Bitfarms was not included among the top five stocks recommended by its top-rated analysts.

While the recent price drop may be concerning, the overall positive analyst sentiment and relatively strong financial metrics (high quick and current ratios) suggest a degree of investor confidence in the long-term prospects of the company. However, investors should conduct thorough due diligence before making any investment decisions.

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