Cetera Investment Advisers Purchases 232,821 Shares of Bitfarms Ltd. (NASDAQ:BITF)

Cetera Investment Advisers boosted its position in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 31.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 963,793 shares of the company's stock after buying an additional 232,821 shares during the quarter. Cetera Investment Advisers owned approximately 0.21% of Bitfarms worth $1,436,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BITF. Van ECK Associates Corp grew its position 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 worth $18,705,000 after buying an additional 6,477,985 shares during the period. Barclays PLC bought a new stake in shares of Bitfarms in the third quarter worth about $161,000. Charles Schwab Investment Management Inc. raised its position 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 during the period. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in Bitfarms during the 4th quarter worth approximately $1,200,000. Finally, Dimensional Fund Advisors LP lifted its position in Bitfarms by 34.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,148,423 shares of the company's stock valued at $1,711,000 after acquiring an additional 293,138 shares in the last quarter. 20.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on BITF. Alliance Global Partners reissued a "buy" rating on shares of Bitfarms in a research report on Wednesday, May 14th. Industrial Alliance Securities set a $3.25 target price on Bitfarms in a research note on Thursday, March 27th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Bitfarms in a report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Bitfarms has an average rating of "Moderate Buy" and a consensus target price of $4.01.

Bitfarms Price Performance

Shares of BITF traded up $0.02 during trading hours on Tuesday, reaching $1.07. The stock had a trading volume of 39,455,272 shares, compared to its average volume of 28,747,858. The stock has a market capitalization of $592.40 million, a PE ratio of -2.97 and a beta of 3.69. Bitfarms Ltd. has a 12 month low of $0.67 and a 12 month high of $3.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70. The company's 50-day moving average is $0.95 and its two-hundred day moving average is $1.40.

Bitfarms (NASDAQ:BITF - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.04) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.04). Bitfarms had a negative net margin of 69.08% and a negative return on equity of 22.17%. The business had revenue of $66.85 million during the quarter, compared to the consensus estimate of $67.17 million. Research analysts expect that Bitfarms Ltd. will post -0.21 EPS for the current year.

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.