Capital Performance Advisors LLP Acquires Shares of 10,000 Bitfarms Ltd. (NASDAQ:BITF)

Capital Performance Advisors LLP acquired a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $29,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. boosted its stake in Bitfarms by 7.8% during the 4th quarter. Vontobel Holding Ltd. now owns 81,747 shares of the company’s stock valued at $238,000 after acquiring an additional 5,900 shares during the last quarter. Headlands Technologies LLC lifted its position in shares of Bitfarms by 64.7% in the 4th quarter. Headlands Technologies LLC now owns 18,908 shares of the company’s stock worth $55,000 after buying an additional 7,429 shares during the last quarter. Pasadena Private Wealth LLC bought a new position in shares of Bitfarms in the 4th quarter worth about $34,000. Sloy Dahl & Holst LLC bought a new position in shares of Bitfarms in the 4th quarter worth about $44,000. Finally, DMC Group LLC bought a new position in shares of Bitfarms in the 4th quarter worth about $47,000. 20.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BITF. Northland Securities began coverage on shares of Bitfarms in a research report on Thursday, April 25th. They issued an “outperform” rating and a $4.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $4.00 price target on shares of Bitfarms in a research report on Thursday, March 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $4.00 price objective on shares of Bitfarms in a research report on Tuesday, March 26th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bitfarms currently has a consensus rating of “Buy” and an average price target of $4.20.

Bitfarms Stock Performance

NASDAQ:BITF traded up $0.10 during mid-day trading on Monday, hitting $1.92. The stock had a trading volume of 16,596,479 shares, compared to its average volume of 24,038,057. The stock has a market capitalization of $684.08 million, a price-to-earnings ratio of -5.19 and a beta of 3.65. The company has a 50 day simple moving average of $2.24 and a 200-day simple moving average of $2.19. Bitfarms Ltd. has a 52 week low of $0.92 and a 52 week high of $3.91. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.04.

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

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.