Quantbot Technologies LP Acquires Shares of 530,747 Bitfarms Ltd. (NASDAQ:BITF)

Quantbot Technologies LP acquired a new stake in Bitfarms Ltd. (NASDAQ:BITF - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 530,747 shares of the company's stock, valued at approximately $791,000. Quantbot Technologies LP owned 0.12% of Bitfarms as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of BITF. Lifeworks Advisors LLC lifted its stake in Bitfarms by 42.4% in the fourth quarter. Lifeworks Advisors LLC now owns 24,664 shares of the company's stock valued at $37,000 after buying an additional 7,339 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Bitfarms during the third quarter worth $25,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Bitfarms by 22.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,562 shares of the company's stock valued at $176,000 after acquiring an additional 15,167 shares in the last quarter. Impact Partnership Wealth LLC boosted its stake in Bitfarms by 26.1% in the 4th quarter. Impact Partnership Wealth LLC now owns 88,663 shares of the company's stock worth $132,000 after purchasing an additional 18,378 shares during the period. Finally, Money Concepts Capital Corp bought a new position in Bitfarms during the 4th quarter worth about $30,000. 20.59% of the stock is owned by institutional investors.

Bitfarms Stock Down 11.6 %

Shares of Bitfarms stock traded down $0.11 on Friday, reaching $0.84. 27,770,336 shares of the company were exchanged, compared to its average volume of 28,895,974. The company has a market capitalization of $403.93 million, a price-to-earnings ratio of -2.34 and a beta of 3.68. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04. Bitfarms Ltd. has a one year low of $0.82 and a one year high of $3.28. The company has a 50-day moving average of $1.27 and a 200 day moving average of $1.72.

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Bitfarms (NASDAQ:BITF - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.07. The firm had revenue of $54.40 million during the quarter, compared to analysts' expectations of $54.22 million. Bitfarms had a negative net margin of 69.08% and a negative return on equity of 22.17%. On average, equities research analysts forecast that Bitfarms Ltd. will post -0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BITF. HC Wainwright cut their price target on Bitfarms from $4.00 to $3.50 and set a "buy" rating on the stock in a report on Thursday. Alliance Global Partners restated a "buy" rating on shares of Bitfarms in a research note on Thursday. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Bitfarms in a research note on Wednesday, January 8th. They set an "outperform" rating for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Bitfarms has a consensus rating of "Moderate Buy" and a consensus price target of $3.97.

Bitfarms Company Profile

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.