Tidal Investments LLC trimmed its position in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 5.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,225,553 shares of the company's stock after selling 391,875 shares during the quarter. Tidal Investments LLC owned 1.37% of Bitfarms worth $13,136,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC purchased a new position in Bitfarms in the third quarter valued at $25,000. Lifeworks Advisors LLC purchased a new position in shares of Bitfarms in the 3rd quarter valued at about $37,000. WINTON GROUP Ltd acquired a new position in shares of Bitfarms during the second quarter worth about $38,000. Chesapeake Capital Corp IL grew its position in shares of Bitfarms by 27.9% during the third quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company's stock worth $50,000 after buying an additional 4,800 shares in the last quarter. Finally, HBW Advisory Services LLC purchased a new stake in shares of Bitfarms during the third quarter worth approximately $63,000. 20.59% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on BITF. Cantor Fitzgerald reiterated an "overweight" rating and set a $5.00 price target on shares of Bitfarms in a report on Thursday, October 3rd. HC Wainwright reiterated a "buy" rating and set a $4.00 target price on shares of Bitfarms in a research note on Thursday, November 14th. Stifel Canada upgraded Bitfarms from a "hold" rating to a "moderate buy" rating in a research note on Friday, November 22nd. Finally, Alliance Global Partners assumed coverage on Bitfarms in a research report on Wednesday, December 4th. They set a "buy" rating and a $6.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Bitfarms currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.05.
Check Out Our Latest Analysis on Bitfarms
Bitfarms Stock Performance
NASDAQ BITF traded down $0.06 during trading hours on Friday, hitting $1.96. The company had a trading volume of 36,383,864 shares, compared to its average volume of 25,770,592. The business has a 50 day moving average of $2.07 and a 200-day moving average of $2.27. The company has a market cap of $887.74 million, a PE ratio of -5.61 and a beta of 3.59. Bitfarms Ltd. has a 1-year low of $1.52 and a 1-year high of $3.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70.
About Bitfarms
(
Free Report)
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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