Sun Mar 16 13:10:00 UTC 2025: ## Bitfarms Stock Gaps Down Despite Positive Analyst Ratings

**Sioux Falls, SD – January 16, 2025** – Shares of Bitfarms Ltd. (NASDAQ: BITF) opened lower on Monday, trading at $1.17 after closing at $1.24 on Friday. The stock later traded at $1.14, with over 5.4 million shares changing hands.

Despite the dip, Bitfarms has recently received positive attention from analysts. 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 assigned an “outperform” rating. Currently, the stock holds a “moderate buy” consensus rating among analysts, with an average price target of $4.05, according to MarketBeat.com.

Institutional investors have also shown interest, with several firms, including HighTower Advisors LLC, Lifeworks Advisors LLC, Money Concepts Capital Corp, Guided Capital Wealth Management LLC, and National Bank of Canada FI, either initiating or increasing their positions in Bitfarms in recent quarters. Institutional ownership currently stands at 20.59%.

Bitfarms operates cryptocurrency mining facilities in North and South America, primarily focusing on Bitcoin mining. The company also provides electrical services in Quebec.

However, MarketBeat notes that despite the positive analyst sentiment surrounding Bitfarms, the firm was not included on the list of top-rated analysts’ “whispered” buy recommendations. MarketBeat encourages investors to conduct their own research before making investment decisions.

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