Trium Capital LLP Acquires New Stake in Bitfarms Ltd. (NASDAQ:BITF)

Trium Capital LLP bought a new position in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 772,573 shares of the company's stock, valued at approximately $609,000. Trium Capital LLP owned approximately 0.14% of Bitfarms as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Invesco Ltd. boosted its position in shares of Bitfarms by 9.3% in the 4th quarter. Invesco Ltd. now owns 13,355,913 shares of the company's stock worth $19,900,000 after buying an additional 1,140,037 shares in the last quarter. Vident Advisory LLC lifted its holdings 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 purchasing an additional 2,828,703 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 acquiring an additional 819,107 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Bitfarms by 121.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,501,953 shares of the company's stock valued at $3,728,000 after acquiring an additional 1,370,102 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Bitfarms by 19.9% during the 4th quarter. Geode Capital Management LLC now owns 2,253,046 shares of the company's stock valued at $3,339,000 after acquiring an additional 373,592 shares during the last quarter. 20.59% of the stock is currently owned by hedge funds and other institutional investors.

Bitfarms Price Performance

Shares of NASDAQ:BITF opened at $1.03 on Wednesday. The company has a quick ratio of 2.58, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. Bitfarms Ltd. has a 52-week low of $0.67 and a 52-week high of $3.15. The company has a 50 day moving average of $0.96 and a two-hundred day moving average of $1.14. The company has a market capitalization of $572.64 million, a price-to-earnings ratio of -5.42 and a beta of 3.45.

Bitfarms (NASDAQ:BITF - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.04) earnings per share 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 business had revenue of $66.85 million during the quarter, compared to the consensus estimate of $67.17 million. As a group, analysts forecast that Bitfarms Ltd. will post -0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BITF has been the subject of a number of research 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 report on Thursday, March 27th. Finally, HC Wainwright reissued a "buy" rating on shares of Bitfarms in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $4.44.

Bitfarms Company 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.

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