Two Sigma Securities LLC Has $764,000 Stock Position in Bitfarms Ltd. (NASDAQ:BITF)

Two Sigma Securities LLC raised its stake in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 878.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 512,527 shares of the company's stock after acquiring an additional 460,119 shares during the quarter. Two Sigma Securities LLC owned approximately 0.11% of Bitfarms worth $764,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BITF. HighTower Advisors LLC bought a new position in Bitfarms in the 3rd quarter valued at $25,000. Guided Capital Wealth Management LLC acquired a new stake in shares of Bitfarms in the fourth quarter valued at $30,000. Money Concepts Capital Corp acquired a new position in Bitfarms during the 4th quarter worth about $30,000. National Bank of Canada FI grew its holdings in Bitfarms by 2,629.2% during the 4th quarter. National Bank of Canada FI now owns 20,633 shares of the company's stock worth $31,000 after acquiring an additional 19,877 shares during the last quarter. Finally, Olympiad Research LP acquired a new stake in Bitfarms in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 20.59% of the company's stock.

Bitfarms Trading Up 3.6 %

Shares of Bitfarms stock traded up $0.04 during trading on Thursday, hitting $1.04. 6,618,847 shares of the company were exchanged, compared to its average volume of 28,315,639. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.70 and a quick ratio of 3.68. The firm has a market capitalization of $558.07 million, a P/E ratio of -2.87 and a beta of 3.74. The firm's fifty day moving average price is $0.97 and its 200 day moving average price is $1.52. Bitfarms Ltd. has a 1-year low of $0.67 and a 1-year high of $3.28.

Bitfarms (NASDAQ:BITF - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.07. Bitfarms had a negative net margin of 69.08% and a negative return on equity of 22.17%. The firm had revenue of $54.40 million during the quarter, compared to the consensus estimate of $54.22 million. As a group, sell-side analysts expect that Bitfarms Ltd. will post -0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BITF. Industrial Alliance Securities set a $3.25 target price on shares of Bitfarms in a research report on Thursday, March 27th. HC Wainwright lowered their target price on Bitfarms from $4.00 to $3.50 and set a "buy" rating for the company in a research note on Thursday, March 27th. Alliance Global Partners reaffirmed a "buy" rating on shares of Bitfarms in a research note on Thursday, March 27th. Finally, Keefe, Bruyette & Woods assumed coverage on Bitfarms in a research report on Wednesday, January 8th. They issued an "outperform" rating for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $3.84.

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.