Charles Schwab Investment Management Inc. boosted its position in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 52.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,808,165 shares of the company's stock after purchasing an additional 1,306,212 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.71% of Bitfarms worth $3,002,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Arkadios Wealth Advisors purchased a new position in Bitfarms during the 1st quarter worth $39,000. Cresset Asset Management LLC increased its holdings in shares of Bitfarms by 54.6% in the 4th quarter. Cresset Asset Management LLC now owns 27,735 shares of the company's stock valued at $41,000 after acquiring an additional 9,795 shares during the period. Theory Financial LLC purchased a new position in shares of Bitfarms in the 1st quarter valued at $48,000. SBI Securities Co. Ltd. increased its holdings in shares of Bitfarms by 69.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 148,456 shares of the company's stock valued at $117,000 after acquiring an additional 61,085 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Bitfarms by 26.2% during the first quarter. Private Advisor Group LLC now owns 178,100 shares of the company's stock valued at $140,000 after buying an additional 37,000 shares during the last quarter. 20.59% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
BITF has been the subject of several analyst reports. Jones Trading began coverage on shares of Bitfarms in a research report on Monday, July 21st. They set a "buy" rating and a $2.00 price target for the company. HC Wainwright reaffirmed a "buy" rating on shares of Bitfarms in a report on Wednesday, May 14th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Bitfarms in a report on Wednesday, May 14th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Bitfarms currently has an average rating of "Buy" and an average price target of $3.95.
Read Our Latest Analysis on BITF
Bitfarms Stock Performance
Shares of BITF stock traded down $0.04 during trading hours on Thursday, hitting $1.25. The company's stock had a trading volume of 18,325,661 shares, compared to its average volume of 25,036,932. The company has a current ratio of 3.11, a quick ratio of 3.03 and a debt-to-equity ratio of 0.11. The stock has a market cap of $695.19 million, a PE ratio of -7.35 and a beta of 3.50. The company has a 50 day moving average of $1.18 and a 200 day moving average of $1.05. Bitfarms Ltd. has a 12-month low of $0.67 and a 12-month high of $2.76.
Bitfarms (NASDAQ:BITF - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The company had revenue of $77.80 million for the quarter, compared to analysts' expectations of $79.78 million. Bitfarms had a negative return on equity of 9.86% and a negative net margin of 35.09%. On average, sell-side analysts forecast that Bitfarms Ltd. will post -0.21 EPS for the current fiscal year.
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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