Bitfarms Ltd. (NASDAQ:BITF) Shares Sold by GTS Securities LLC

GTS Securities LLC cut its holdings in Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 79.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,945 shares of the company's stock after selling 280,156 shares during the period. GTS Securities LLC's holdings in Bitfarms were worth $110,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Bitfarms by 9.3% during the fourth quarter. Invesco Ltd. now owns 13,355,913 shares of the company's stock worth $19,900,000 after acquiring an additional 1,140,037 shares during the last quarter. MMCAP International Inc. SPC raised its position in shares of Bitfarms by 617.9% during the 4th quarter. MMCAP International Inc. SPC now owns 13,352,745 shares of the company's stock worth $19,896,000 after purchasing an additional 11,492,650 shares during the last quarter. Van ECK Associates Corp lifted its stake in 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 buying an additional 6,477,985 shares in the last quarter. Vident Advisory LLC lifted its stake in 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 buying an additional 2,828,703 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Bitfarms by 23.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,270,442 shares of the company's stock valued at $6,327,000 after buying an additional 819,107 shares during the last quarter. 20.59% of the stock is owned by institutional investors and hedge funds.

Bitfarms Trading Down 0.5%

BITF traded down $0.00 during trading on Monday, hitting $0.92. The company's stock had a trading volume of 9,451,328 shares, compared to its average volume of 28,632,320. Bitfarms Ltd. has a twelve month low of $0.67 and a twelve month high of $3.28. The stock has a market cap of $507.25 million, a PE ratio of -2.54 and a beta of 3.69. The firm's 50 day moving average price is $0.95 and its 200-day moving average price is $1.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.70 and a quick ratio of 3.68.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BITF. Industrial Alliance Securities set a $3.25 price target on Bitfarms in a report on Thursday, March 27th. Alliance Global Partners reiterated a "buy" rating on shares of Bitfarms in a research report on Wednesday, May 14th. Finally, HC Wainwright restated a "buy" rating on shares of Bitfarms in a report on Wednesday, May 14th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $4.44.

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.