Banco Bilbao Vizcaya Argentaria S.A. Purchases New Position in Bitfarms Ltd. (NASDAQ:BITF)

Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Bitfarms Ltd. (NASDAQ:BITF - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BITF. Van ECK Associates Corp boosted its holdings in shares of Bitfarms by 106.6% during the 4th 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of Bitfarms by 4.5% in the 3rd 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 during the last quarter. Barclays PLC purchased a new stake in Bitfarms during the third quarter valued at $161,000. Charles Schwab Investment Management Inc. boosted its position in Bitfarms by 121.0% in the fourth 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, Baader Bank Aktiengesellschaft grew its stake in shares of Bitfarms by 245.8% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 700,300 shares of the company's stock valued at $1,043,000 after purchasing an additional 497,789 shares during the period. Institutional investors own 20.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BITF shares. Alliance Global Partners reissued a "buy" rating on shares of Bitfarms in a report on Thursday, March 27th. Industrial Alliance Securities set a $3.25 price target on Bitfarms in a report on Thursday, March 27th. Keefe, Bruyette & Woods began coverage on shares of Bitfarms in a research note on Wednesday, January 8th. They issued an "outperform" rating on the stock. Finally, 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 note on Thursday, March 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $3.84.

Bitfarms Trading Up 0.1 %

Bitfarms stock traded up $0.00 during mid-day trading on Wednesday, hitting $1.00. The company's stock had a trading volume of 15,615,552 shares, compared to its average volume of 28,400,972. Bitfarms Ltd. has a one year low of $0.67 and a one year high of $3.28. The stock has a market cap of $538.61 million, a PE ratio of -2.77 and a beta of 3.74. The company has a 50 day moving average of $0.97 and a 200-day moving average of $1.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70.

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

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.