Trium Capital LLP Makes New Investment in Bitfarms Ltd. (NASDAQ:BITF)

Trium Capital LLP acquired a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 772,573 shares of the company's stock, valued at approximately $609,000. Trium Capital LLP owned about 0.14% of Bitfarms at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BITF. National Bank of Canada FI raised its stake in Bitfarms by 2,629.2% in the fourth quarter. National Bank of Canada FI now owns 20,633 shares of the company's stock worth $31,000 after buying an additional 19,877 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Bitfarms by 54.6% during the fourth quarter. Cresset Asset Management LLC now owns 27,735 shares of the company's stock valued at $41,000 after purchasing an additional 9,795 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Bitfarms during the fourth quarter valued at approximately $114,000. First Trust Advisors LP bought a new position in shares of Bitfarms during the fourth quarter valued at approximately $153,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Bitfarms by 65.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 119,882 shares of the company's stock valued at $179,000 after purchasing an additional 47,298 shares in the last quarter. 20.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BITF has been the subject of a number of analyst reports. Alliance Global Partners reaffirmed a "buy" rating on shares of Bitfarms in a research note on Wednesday, May 14th. Industrial Alliance Securities set a $3.25 target price on shares of Bitfarms in a research note on Thursday, March 27th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Bitfarms in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $4.44.

Bitfarms Price Performance

NASDAQ BITF remained flat at $1.07 on Friday. 18,624,226 shares of the company's stock were exchanged, compared to its average volume of 27,632,605. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.58. The stock has a market cap of $594.88 million, a PE ratio of -5.63 and a beta of 3.45. The stock's 50 day moving average is $0.96 and its 200 day moving average is $1.13. Bitfarms Ltd. has a one year low of $0.67 and a one year high of $3.15.

Bitfarms (NASDAQ:BITF - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.04) EPS for the quarter, hitting analysts' consensus estimates of ($0.04). Bitfarms had a negative net margin of 40.09% and a negative return on equity of 12.70%. The firm had revenue of $66.85 million during the quarter, compared to analysts' expectations of $67.17 million. On average, research analysts expect that Bitfarms Ltd. will post -0.21 EPS for the current year.

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.