Bitfarms Ltd. (NASDAQ:BITF) Stock Holdings Boosted by Vontobel Holding Ltd.

Vontobel Holding Ltd. raised its holdings in Bitfarms Ltd. (NASDAQ:BITF) by 7.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,747 shares of the company’s stock after acquiring an additional 5,900 shares during the quarter. Vontobel Holding Ltd.’s holdings in Bitfarms were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Bitfarms during the 3rd quarter worth $188,000. Oxinas Partners Wealth Management LLC purchased a new position in Bitfarms in the 3rd quarter worth about $65,000. Van ECK Associates Corp raised its holdings in Bitfarms by 18.6% during the 3rd quarter. Van ECK Associates Corp now owns 3,580,369 shares of the company’s stock worth $3,831,000 after buying an additional 561,342 shares during the period. Invesco Ltd. lifted its stake in Bitfarms by 58.2% during the third quarter. Invesco Ltd. now owns 9,969,427 shares of the company’s stock valued at $10,667,000 after buying an additional 3,667,681 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in shares of Bitfarms by 745.2% in the third quarter. Quadrature Capital Ltd now owns 1,023,847 shares of the company’s stock worth $1,090,000 after buying an additional 902,708 shares during the period. Institutional investors own 20.59% of the company’s stock.

Analysts Set New Price Targets

BITF has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of Bitfarms in a research note on Tuesday, March 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $4.00 price target on shares of Bitfarms in a research report on Thursday, March 28th.

Bitfarms Stock Down 2.4 %

Shares of Bitfarms stock opened at $2.06 on Thursday. The stock has a 50-day simple moving average of $2.45 and a 200-day simple moving average of $2.14. Bitfarms Ltd. has a 52-week low of $0.92 and a 52-week high of $3.91. The firm has a market cap of $733.96 million, a price-to-earnings ratio of -5.57 and a beta of 3.62. 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 posted its earnings results on Thursday, March 7th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Bitfarms had a negative net margin of 70.53% and a negative return on equity of 19.58%. The firm had revenue of $46.24 million for the quarter, compared to the consensus estimate of $39.68 million. During the same period in the prior year, the business posted ($0.07) earnings per share. On average, equities research analysts expect that Bitfarms Ltd. will post -0.1 earnings per share for the current fiscal year.

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.