Bitfarms Ltd. (NASDAQ:BITF) Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 99.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,007 shares of the company's stock after selling 6,178,546 shares during the quarter. Tidal Investments LLC's holdings in Bitfarms were worth $70,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Guided Capital Wealth Management LLC purchased a new position in Bitfarms during the fourth quarter valued at approximately $30,000. Money Concepts Capital Corp purchased a new stake in Bitfarms in the fourth quarter worth $30,000. National Bank of Canada FI boosted its position in Bitfarms by 2,629.2% during the 4th quarter. National Bank of Canada FI now owns 20,633 shares of the company's stock valued at $31,000 after acquiring an additional 19,877 shares in the last quarter. Olympiad Research LP purchased a new stake in shares of Bitfarms in the 4th quarter worth about $36,000. Finally, Lifeworks Advisors LLC increased its holdings in shares of Bitfarms by 42.4% during the fourth quarter. Lifeworks Advisors LLC now owns 24,664 shares of the company's stock valued at $37,000 after acquiring an additional 7,339 shares in the last quarter. 20.59% of the stock is owned by institutional investors.

Bitfarms Trading Up 0.4%

Shares of NASDAQ BITF traded up $0.00 during trading hours on Tuesday, reaching $0.92. The stock had a trading volume of 9,044,227 shares, compared to its average volume of 28,554,797. Bitfarms Ltd. has a 52-week low of $0.67 and a 52-week high of $3.28. The business's fifty day moving average price is $0.95 and its two-hundred day moving average price is $1.35. The firm has a market cap of $509.41 million, a price-to-earnings ratio of -2.56 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.

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

Analyst Ratings Changes

Several brokerages recently commented on BITF. 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 Bitfarms in a report on Thursday, March 27th. 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 MarketBeat, Bitfarms presently has a consensus rating of "Buy" and a consensus price target of $4.44.

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.