Dimensional Fund Advisors LP Acquires 293,138 Shares of Bitfarms Ltd. (NASDAQ:BITF)

Dimensional Fund Advisors LP increased its position in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 34.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,148,423 shares of the company's stock after acquiring an additional 293,138 shares during the quarter. Dimensional Fund Advisors LP owned about 0.25% of Bitfarms worth $1,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MMCAP International Inc. SPC raised its stake in Bitfarms by 617.9% in the 4th quarter. MMCAP International Inc. SPC now owns 13,352,745 shares of the company's stock worth $19,896,000 after acquiring an additional 11,492,650 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Bitfarms by 106.6% in the 4th quarter. Van ECK Associates Corp now owns 12,553,729 shares of the company's stock valued at $18,705,000 after purchasing an additional 6,477,985 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Bitfarms by 121.0% during 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 in the last quarter. Invesco Ltd. lifted its holdings in Bitfarms by 9.3% in the 4th quarter. Invesco Ltd. now owns 13,355,913 shares of the company's stock valued at $19,900,000 after purchasing an additional 1,140,037 shares in the last quarter. Finally, SRN Advisors LLC purchased a new position in Bitfarms during the fourth quarter worth approximately $1,192,000. 20.59% of the stock is currently owned by hedge funds and other institutional investors.

Bitfarms Trading Down 6.0%

Shares of Bitfarms stock opened at $1.09 on Thursday. The company has a 50-day moving average of $0.95 and a two-hundred day moving average of $1.46. 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 stock has a market cap of $587.73 million, a PE ratio of -3.03 and a beta of 3.69. Bitfarms Ltd. has a 12-month low of $0.67 and a 12-month high of $3.28.

Bitfarms (NASDAQ:BITF - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $66.85 million for the quarter, compared to analysts' expectations of $67.17 million. Bitfarms had a negative return on equity of 22.17% and a negative net margin of 69.08%. On average, research analysts anticipate that Bitfarms Ltd. will post -0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on BITF shares. HC Wainwright lowered their target price on shares of Bitfarms from $4.00 to $3.50 and set a "buy" rating for the company in a research note on Thursday, March 27th. Alliance Global Partners reissued a "buy" rating on shares of Bitfarms in a research report on Thursday, March 27th. Finally, Industrial Alliance Securities set a $3.25 price target on Bitfarms in a research note on Thursday, March 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $3.84.

Bitfarms 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.