73,781 Shares in Bitfarms Ltd. (NASDAQ:BITF) Bought by Nwam LLC

Nwam LLC bought a new stake in Bitfarms Ltd. (NASDAQ:BITF) during the third quarter, Holdings Channel reports. The institutional investor bought 73,781 shares of the company’s stock, valued at approximately $156,000.

Several other hedge funds also recently bought and sold shares of the company. Shell Asset Management Co. bought a new stake in Bitfarms in the first quarter worth approximately $43,000. Bayesian Capital Management LP boosted its holdings in Bitfarms by 116.3% in the first quarter. Bayesian Capital Management LP now owns 63,600 shares of the company’s stock worth $142,000 after purchasing an additional 34,200 shares in the last quarter. Cetera Investment Advisers acquired a new position in Bitfarms during the first quarter worth $1,558,000. Cetera Advisors LLC raised its holdings in Bitfarms by 40.8% during the first quarter. Cetera Advisors LLC now owns 684,547 shares of the company’s stock valued at $1,523,000 after buying an additional 198,470 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Bitfarms by 521.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,395 shares of the company’s stock worth $176,000 after buying an additional 57,383 shares during the last quarter. 20.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BITF shares. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price objective on shares of Bitfarms in a report on Thursday, October 3rd. Stifel Canada upgraded Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Bitfarms in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.66.

Bitfarms Stock Performance

BITF opened at $1.97 on Wednesday. Bitfarms Ltd. has a 12-month low of $1.03 and a 12-month high of $3.91. The firm has a market capitalization of $892.27 million, a P/E ratio of -5.47 and a beta of 3.64. The stock’s 50 day moving average price is $2.06 and its two-hundred day moving average price is $2.25. The company has a quick ratio of 3.68, a current ratio of 3.70 and a debt-to-equity ratio of 0.04.

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.