Vident Advisory LLC increased its position in Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 10.4% in the first quarter, according to the company in its most recent 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 quarter. Vident Advisory LLC owned approximately 1.24% of Bitfarms worth $5,279,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Bitfarms by 23.7% during the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Bitfarms by 52.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,808,165 shares of the company's stock valued at $3,002,000 after purchasing an additional 1,306,212 shares during the last quarter. Continental General Insurance Co. bought a new stake in shares of Bitfarms in the 1st quarter worth $2,124,000. Dimensional Fund Advisors LP raised its stake in shares of Bitfarms by 34.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,148,423 shares of the company's stock worth $1,711,000 after purchasing an additional 293,138 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Bitfarms by 31.9% during the fourth quarter. Cetera Investment Advisers now owns 963,793 shares of the company's stock valued at $1,436,000 after purchasing an additional 232,821 shares in the last quarter. 20.59% of the stock is owned by hedge funds and other institutional investors.
Bitfarms Price Performance
Shares of NASDAQ:BITF traded down $0.05 during mid-day trading on Wednesday, reaching $1.29. The stock had a trading volume of 33,705,865 shares, compared to its average volume of 25,883,738. The business's 50 day moving average price is $1.16 and its 200 day moving average price is $1.05. Bitfarms Ltd. has a 1 year low of $0.67 and a 1 year high of $2.76. The company has a market cap of $717.43 million, a P/E ratio of -7.59 and a beta of 3.50. The company has a current ratio of 3.11, a quick ratio of 3.03 and a debt-to-equity ratio of 0.11.
Bitfarms (NASDAQ:BITF - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $77.80 million for the quarter, compared to analysts' expectations of $79.78 million. Bitfarms had a negative net margin of 35.09% and a negative return on equity of 9.86%. Research analysts expect that Bitfarms Ltd. will post -0.21 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on BITF. Jones Trading began coverage on shares of Bitfarms in a research report on Monday, July 21st. They set a "buy" rating and a $2.00 target price for the company. Alliance Global Partners reiterated a "buy" rating on shares of Bitfarms in a research note on Wednesday, May 14th. Finally, HC Wainwright restated a "buy" rating on shares of Bitfarms in a research note on Wednesday, May 14th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $3.95.
View Our Latest Stock Analysis on BITF
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.
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