Leonteq Securities AG Makes New Investment in Bitfarms Ltd. $BITF

Leonteq Securities AG bought a new position in Bitfarms Ltd. (NASDAQ:BITF) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 303,201 shares of the company’s stock, valued at approximately $713,000.

A number of other large investors have also added to or reduced their stakes in the company. CloudAlpha Capital Management Limited Hong Kong bought a new position in Bitfarms in the fourth quarter worth about $3,835,000. Phoenix Financial Ltd. raised its holdings in Bitfarms by 175.7% in the fourth quarter. Phoenix Financial Ltd. now owns 85,288 shares of the company’s stock worth $200,000 after purchasing an additional 54,356 shares in the last quarter. Baader Bank Aktiengesellschaft raised its holdings in Bitfarms by 23.7% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 633,973 shares of the company’s stock worth $1,447,000 after purchasing an additional 121,276 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Bitfarms by 28.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 100,126 shares of the company’s stock worth $235,000 after purchasing an additional 22,258 shares in the last quarter. Finally, R Squared Ltd bought a new position in Bitfarms in the fourth quarter worth about $54,000. 20.59% of the stock is currently owned by institutional investors.

Bitfarms Stock Performance

BITF opened at $4.64 on Friday. Bitfarms Ltd. has a 52-week low of $0.70 and a 52-week high of $6.60. The company has a quick ratio of 3.14, a current ratio of 3.20 and a debt-to-equity ratio of 0.11. The company has a market cap of $2.80 billion, a P/E ratio of -20.17 and a beta of 3.77. The firm’s 50-day moving average price is $2.89 and its 200-day moving average price is $2.73.

Analyst Ratings Changes

A number of brokerages have commented on BITF. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $3.00 target price (up from $2.50) on shares of Bitfarms in a report on Tuesday, January 27th. HC Wainwright reduced their target price on shares of Bitfarms from $4.00 to $3.70 and set a “buy” rating for the company in a report on Tuesday, March 31st. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bitfarms currently has an average rating of “Moderate Buy” and an average price target of $4.14.

About Bitfarms

Bitfarms Ltd. is a publicly traded, vertically integrated Bitcoin mining company listed on the NASDAQ under the ticker BITF. The company engages in the large-scale operation of cryptocurrency mining farms, leveraging specialized computing hardware to validate and secure the Bitcoin blockchain. By converting electrical energy into computing power, Bitfarms plays a critical role in processing transactions on the Bitcoin network and earning mining rewards.

Bitfarms operates data centers in several jurisdictions with access to low-cost, primarily renewable energy sources.