Bitfarms Ltd. (NASDAQ:BITF) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP trimmed its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 83.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,000 shares of the company's stock after selling 395,304 shares during the quarter. ExodusPoint Capital Management LP's holdings in Bitfarms were worth $118,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its position in shares of Bitfarms by 106.6% in the fourth quarter. Van ECK Associates Corp now owns 12,553,729 shares of the company's stock valued at $18,705,000 after acquiring an additional 6,477,985 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Bitfarms by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,879,454 shares of the company's stock valued at $3,965,000 after purchasing an additional 81,760 shares in the last quarter. Barclays PLC acquired a new stake in Bitfarms during the 3rd quarter worth $161,000. Charles Schwab Investment Management Inc. boosted its stake in Bitfarms by 121.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,501,953 shares of the company's stock worth $3,728,000 after purchasing an additional 1,370,102 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Bitfarms by 1.3% during the third quarter. State Street Corp now owns 4,917,729 shares of the company's stock worth $10,376,000 after buying an additional 63,916 shares in the last quarter. Institutional investors and hedge funds own 20.59% of the company's stock.

Bitfarms Trading Up 1.5 %

Bitfarms stock traded up $0.01 during mid-day trading on Friday, hitting $0.84. The company's stock had a trading volume of 5,684,339 shares, compared to its average volume of 28,598,435. Bitfarms Ltd. has a 1 year low of $0.67 and a 1 year high of $3.28. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $452.93 million, a PE ratio of -2.33 and a beta of 3.74. The stock's fifty day moving average is $1.04 and its two-hundred day moving average is $1.57.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. 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. HC Wainwright dropped their price target on Bitfarms from $4.00 to $3.50 and set a "buy" rating for the company in a research report on Thursday, March 27th. Industrial Alliance Securities set a $3.25 price objective on Bitfarms in a research report on Thursday, March 27th. Finally, Alliance Global Partners restated a "buy" rating on shares of Bitfarms in a report on Thursday, March 27th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Bitfarms presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.86.

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.