Hel Ved Capital Management Ltd Makes New $626,000 Investment in Bitfarms Ltd. (NASDAQ:BITF)

Hel Ved Capital Management Ltd acquired a new stake in Bitfarms Ltd. (NASDAQ:BITF - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 420,000 shares of the company's stock, valued at approximately $626,000. Hel Ved Capital Management Ltd owned 0.09% of Bitfarms at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. HighTower Advisors LLC bought a new position in Bitfarms during the third quarter valued at about $25,000. Money Concepts Capital Corp bought a new position in shares of Bitfarms during the 4th quarter valued at approximately $30,000. Guided Capital Wealth Management LLC purchased a new stake in shares of Bitfarms during the 4th quarter worth approximately $30,000. National Bank of Canada FI raised its holdings in shares of Bitfarms by 2,629.2% in the 4th quarter. National Bank of Canada FI now owns 20,633 shares of the company's stock worth $31,000 after purchasing an additional 19,877 shares during the period. Finally, Olympiad Research LP purchased a new position in Bitfarms in the fourth quarter valued at approximately $36,000. 20.59% of the stock is owned by hedge funds and other institutional investors.

Bitfarms Price Performance

Shares of Bitfarms stock traded down $0.07 on Thursday, reaching $0.78. The stock had a trading volume of 3,495,634 shares, compared to its average volume of 28,676,873. The business's 50 day moving average is $1.12 and its two-hundred day moving average is $1.64. 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 1 year low of $0.67 and a 1 year high of $3.28. The company has a market cap of $373.88 million, a P/E ratio of -2.14 and a beta of 3.74.

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Bitfarms (NASDAQ:BITF - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.07. The firm had revenue of $54.40 million for 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%. As a group, research analysts anticipate that Bitfarms Ltd. will post -0.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BITF shares. HC Wainwright decreased their target price on Bitfarms from $4.00 to $3.50 and set a "buy" rating for the company in a research report on Thursday, March 27th. Keefe, Bruyette & Woods started coverage on Bitfarms in a research note on Wednesday, January 8th. They issued an "outperform" rating on the stock. Alliance Global Partners reaffirmed a "buy" rating on shares of Bitfarms in a report on Thursday, March 27th. Finally, Industrial Alliance Securities set a $3.25 target price on shares of Bitfarms in a research note on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $3.86.

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.