MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,270,442 shares of the company's stock after purchasing an additional 819,107 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.89% of Bitfarms worth $6,327,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. MMCAP International Inc. SPC boosted its holdings in Bitfarms by 617.9% in the fourth 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 in the last quarter. Van ECK Associates Corp raised its position 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 worth $18,705,000 after purchasing an additional 6,477,985 shares during the last quarter. Paloma Partners Management Co boosted its stake in Bitfarms by 620.8% in the 4th quarter. Paloma Partners Management Co now owns 1,801,900 shares of the company's stock worth $2,685,000 after purchasing an additional 1,551,900 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Bitfarms by 121.0% in the 4th 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. Finally, Invesco Ltd. grew its position in Bitfarms by 9.3% during 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 during the last quarter. Hedge funds and other institutional investors own 20.59% of the company's stock.
Analyst Upgrades and Downgrades
BITF has been the subject of several recent analyst reports. Alliance Global Partners reaffirmed a "buy" rating on shares of Bitfarms in a report on Wednesday, May 14th. Industrial Alliance Securities set a $3.25 price target on shares of Bitfarms in a research report on Thursday, March 27th. Finally, HC Wainwright restated 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $4.01.
View Our Latest Analysis on Bitfarms
Bitfarms Stock Performance
NASDAQ:BITF traded down $0.04 during trading hours on Wednesday, reaching $1.08. The company had a trading volume of 31,396,657 shares, compared to its average volume of 28,581,564. The firm has a market cap of $582.34 million, a price-to-earnings ratio of -3.00 and a beta of 3.69. 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 firm's 50 day moving average price is $0.95 and its 200-day moving average price is $1.43. Bitfarms Ltd. has a 52 week low of $0.67 and a 52 week high of $3.28.
Bitfarms (NASDAQ:BITF - Get Free Report) last posted 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 company had revenue of $66.85 million during the quarter, compared to analysts' expectations of $67.17 million. On average, analysts forecast that Bitfarms Ltd. will post -0.21 EPS for the current 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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