Quadrature Capital Ltd Buys 902,708 Shares of Bitfarms Ltd. (NASDAQ:BITF)

Quadrature Capital Ltd grew its stake in Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 745.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,023,847 shares of the company's stock after purchasing an additional 902,708 shares during the period. Quadrature Capital Ltd owned approximately 0.47% of Bitfarms worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of BITF. Citigroup Inc. boosted its holdings in shares of Bitfarms by 21.9% in the 1st quarter. Citigroup Inc. now owns 78,238 shares of the company's stock worth $295,000 after acquiring an additional 14,045 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Bitfarms in the 1st quarter worth approximately $51,000. XTX Topco Ltd acquired a new position in shares of Bitfarms in the 1st quarter worth approximately $57,000. Invesco Ltd. boosted its holdings in shares of Bitfarms by 56.1% in the 1st quarter. Invesco Ltd. now owns 13,039,797 shares of the company's stock worth $48,900,000 after acquiring an additional 4,687,086 shares in the last quarter. Finally, Vident Investment Advisory LLC boosted its holdings in shares of Bitfarms by 130.9% in the 1st quarter. Vident Investment Advisory LLC now owns 598,085 shares of the company's stock worth $2,248,000 after acquiring an additional 339,009 shares in the last quarter. 15.31% of the stock is currently owned by institutional investors.

Bitfarms Stock Performance

NASDAQ:BITF traded down $0.05 during trading hours on Tuesday, hitting $2.58. 2,503,642 shares of the stock were exchanged, compared to its average volume of 26,889,061. The company's 50 day moving average is $2.76 and its two-hundred day moving average is $1.89. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.05. Bitfarms Ltd. has a twelve month low of $0.68 and a twelve month high of $3.91.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BITF. HC Wainwright boosted their target price on Bitfarms from $3.00 to $4.00 and gave the stock a "buy" rating in a report on Wednesday, November 29th. Cantor Fitzgerald upped their price objective on Bitfarms from $2.00 to $3.00 and gave the stock an "overweight" rating in a report on Thursday, January 25th. Finally, B. Riley reaffirmed a "buy" rating and set a $4.00 price objective on shares of Bitfarms in a report on Thursday, December 14th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Bitfarms presently has an average rating of "Buy" and a consensus price target of $4.00.

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.

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