XTX Topco Ltd Has $116,000 Stock Holdings in Bitfarms Ltd. $BITF

Key Points

• XTX Topco Ltd reduced its stake in Bitfarms Ltd. by 67.2%, selling over 300,000 shares during the first quarter, leaving them with shares worth approximately $116,000.
• Several large investors have increased their holdings in Bitfarms, with Cresset Asset Management increasing its stake by 54.6% during the fourth quarter.
• Bitfarms has a current market cap of $708.09 million and recently reported a quarterly revenue of $77.80 million, missing estimates by nearly $2 million.

XTX Topco Ltd lowered its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 67.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,025 shares of the company's stock after selling 301,113 shares during the quarter. XTX Topco Ltd's holdings in Bitfarms were worth $116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Cetera Investment Advisers boosted its stake in shares of Bitfarms by 31.9% during the 4th quarter. Cetera Investment Advisers now owns 963,793 shares of the company's stock worth $1,436,000 after purchasing an additional 232,821 shares during the period. Vident Advisory LLC raised its holdings in shares of Bitfarms by 87.6% in the 4th quarter. Vident Advisory LLC now owns 6,058,078 shares of the company's stock valued at $9,016,000 after purchasing an additional 2,828,703 shares in the last quarter. Trium Capital LLP purchased a new stake in Bitfarms during the first quarter worth $609,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of Bitfarms in the 4th quarter valued at about $1,200,000. Finally, Dimensional Fund Advisors LP raised its stake in Bitfarms by 34.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,148,423 shares of the company's stock valued at $1,711,000 after buying an additional 293,138 shares during the last quarter. 20.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BITF has been the topic of several analyst reports. HC Wainwright reaffirmed a "buy" rating on shares of Bitfarms in a research report on Wednesday, May 14th. Jones Trading started coverage on Bitfarms in a report on Monday, July 21st. They issued a "buy" rating and a $2.00 price objective on the stock. Finally, Alliance Global Partners restated a "buy" rating on shares of Bitfarms in a research note on Wednesday, May 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Bitfarms has an average rating of "Buy" and a consensus target price of $3.95.

Bitfarms Stock Down 4.0%

Shares of BITF stock traded down $0.06 during trading hours on Tuesday, reaching $1.33. The company had a trading volume of 13,535,529 shares, compared to its average volume of 25,922,436. Bitfarms Ltd. has a twelve month low of $0.67 and a twelve month high of $2.76. The stock's fifty day simple moving average is $1.06 and its 200 day simple moving average is $1.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.03 and a current ratio of 3.11. The company has a market capitalization of $738.75 million, a P/E ratio of -7.85 and a beta of 3.50.

Bitfarms (NASDAQ:BITF - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The company had revenue of $77.80 million during the quarter, compared to the consensus estimate of $79.78 million. Bitfarms had a negative net margin of 35.09% and a negative return on equity of 9.86%. As a group, sell-side analysts expect that Bitfarms Ltd. will post -0.21 earnings per share for the current fiscal year.

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.