10,000 Shares in Bitfarms Ltd. (NASDAQ:BITF) Acquired by Capital Performance Advisors LLP

Capital Performance Advisors LLP purchased a new position in shares of Bitfarms Ltd. (NASDAQ:BITF) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $29,000.

A number of other large investors have also recently bought and sold shares of the company. National Bank of Canada FI boosted its position in Bitfarms by 78.6% during the 4th quarter. National Bank of Canada FI now owns 47,391 shares of the company’s stock worth $134,000 after acquiring an additional 20,861 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Bitfarms by 16.7% in the 4th quarter. Van ECK Associates Corp now owns 4,179,875 shares of the company’s stock valued at $12,163,000 after buying an additional 599,506 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of Bitfarms by 64.7% in the 4th quarter. Headlands Technologies LLC now owns 18,908 shares of the company’s stock valued at $55,000 after buying an additional 7,429 shares during the last quarter. Sloy Dahl & Holst LLC acquired a new stake in shares of Bitfarms in the 4th quarter valued at approximately $44,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Bitfarms by 7.8% in the 4th quarter. Vontobel Holding Ltd. now owns 81,747 shares of the company’s stock valued at $238,000 after buying an additional 5,900 shares during the last quarter. Institutional investors and hedge funds own 20.59% of the company’s stock.

Bitfarms Stock Performance

Bitfarms stock traded up $0.10 during mid-day trading on Monday, hitting $1.92. 16,596,479 shares of the company’s stock traded hands, compared to its average volume of 24,038,057. The firm has a 50 day simple moving average of $2.24 and a two-hundred day simple moving average of $2.19. Bitfarms Ltd. has a fifty-two week low of $0.92 and a fifty-two week high of $3.91. The stock has a market cap of $684.08 million, a price-to-earnings ratio of -5.19 and a beta of 3.65. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.88 and a quick ratio of 1.88.

Bitfarms (NASDAQ:BITF) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $46.24 million during the quarter, compared to the consensus estimate of $39.68 million. Bitfarms had a negative return on equity of 19.58% and a negative net margin of 70.53%. During the same quarter last year, the firm posted ($0.07) EPS. On average, research analysts expect that Bitfarms Ltd. will post -0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of Bitfarms in a report on Tuesday, March 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $4.00 price objective on shares of Bitfarms in a report on Thursday, March 28th. Finally, Northland Securities assumed coverage on Bitfarms in a report on Thursday, April 25th. They issued an “outperform” rating and a $4.00 price objective for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $4.20.

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.