Banco Bilbao Vizcaya Argentaria S.A. Acquires Shares of 770,000 Bitfarms Ltd. (NASDAQ:BITF)

Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 770,000 shares of the company's stock, valued at approximately $1,200,000. Banco Bilbao Vizcaya Argentaria S.A. owned approximately 0.17% of Bitfarms at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC acquired a new stake in Bitfarms in the 3rd quarter worth approximately $161,000. Geode Capital Management LLC boosted its stake in Bitfarms by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,879,454 shares of the company's stock worth $3,965,000 after buying an additional 81,760 shares in the last quarter. 272 Capital LP bought a new stake in Bitfarms in the third quarter valued at about $222,000. Impact Partnership Wealth LLC grew its stake in shares of Bitfarms by 26.1% in the 4th quarter. Impact Partnership Wealth LLC now owns 88,663 shares of the company's stock valued at $132,000 after purchasing an additional 18,378 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its position in Bitfarms by 245.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 700,300 shares of the company's stock valued at $1,043,000 after acquiring an additional 497,789 shares during the period. Institutional investors own 20.59% of the company's stock.

Bitfarms Price Performance

NASDAQ:BITF opened at $1.03 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70. The stock's 50-day simple moving average is $1.00 and its 200 day simple moving average is $1.54. The company has a market cap of $555.38 million, a P/E ratio of -2.86 and a beta of 3.74. Bitfarms Ltd. has a 52-week low of $0.67 and a 52-week high of $3.28.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Alliance Global Partners reaffirmed a "buy" rating on shares of Bitfarms in a report on Thursday, March 27th. HC Wainwright cut their target price on Bitfarms from $4.00 to $3.50 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Keefe, Bruyette & Woods began coverage on shares of Bitfarms in a research report on Wednesday, January 8th. They set an "outperform" rating on the stock. Finally, Industrial Alliance Securities set a $3.25 price objective on Bitfarms in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $3.84.

About Bitfarms

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.

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