Vident Advisory LLC increased its position in Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,686,681 shares of the company's stock after purchasing an additional 628,603 shares during the period. Vident Advisory LLC owned 1.24% of Bitfarms worth $5,279,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Mariner LLC boosted its position in shares of Bitfarms by 37.4% during the fourth quarter. Mariner LLC now owns 142,043 shares of the company's stock valued at $212,000 after buying an additional 38,643 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Bitfarms during the fourth quarter worth about $153,000. Dimensional Fund Advisors LP increased its stake in Bitfarms by 34.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,148,423 shares of the company's stock worth $1,711,000 after acquiring an additional 293,138 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Bitfarms by 916.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 295,822 shares of the company's stock worth $441,000 after acquiring an additional 266,713 shares during the last quarter. Finally, Brevan Howard Capital Management LP boosted its holdings in shares of Bitfarms by 25.0% in the 4th quarter. Brevan Howard Capital Management LP now owns 500,000 shares of the company's stock worth $745,000 after purchasing an additional 100,000 shares during the period. 20.59% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Alliance Global Partners reiterated a "buy" rating on shares of Bitfarms in a report on Wednesday, May 14th. Jones Trading began coverage on Bitfarms in a report on Monday, July 21st. They set a "buy" rating and a $2.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating on shares of Bitfarms in a report on Wednesday, May 14th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $3.95.
Read Our Latest Analysis on Bitfarms
Bitfarms Stock Performance
Bitfarms stock traded up $0.02 during trading hours on Friday, hitting $1.27. 11,881,792 shares of the stock traded hands, compared to its average volume of 25,752,422. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 3.03. The firm's 50 day moving average price is $1.18 and its 200-day moving average price is $1.05. The stock has a market capitalization of $703.53 million, a price-to-earnings ratio of -7.44 and a beta of 3.50. Bitfarms Ltd. has a 1 year low of $0.67 and a 1 year high of $2.76.
Bitfarms (NASDAQ:BITF - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Bitfarms had a negative return on equity of 9.86% and a negative net margin of 35.09%.The company had revenue of $77.80 million for the quarter, compared to analyst estimates of $79.78 million. As a group, equities analysts expect that Bitfarms Ltd. will post -0.21 EPS for the current fiscal year.
Bitfarms Profile
(
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.
Read More
Before you consider Bitfarms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bitfarms wasn't on the list.
While Bitfarms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
