Sigma Planning Corp Trims Position in Bitfarms Ltd. (NASDAQ:BITF)

Sigma Planning Corp decreased its holdings in Bitfarms Ltd. (NASDAQ:BITF) by 38.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,800 shares of the company’s stock after selling 17,500 shares during the quarter. Sigma Planning Corp’s holdings in Bitfarms were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new position in Bitfarms in the 2nd quarter worth $38,000. Shell Asset Management Co. bought a new position in Bitfarms in the first quarter worth about $43,000. HBW Advisory Services LLC purchased a new stake in Bitfarms in the third quarter worth about $63,000. Bayesian Capital Management LP boosted its position in Bitfarms by 116.3% during the 1st quarter. Bayesian Capital Management LP now owns 63,600 shares of the company’s stock valued at $142,000 after acquiring an additional 34,200 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bitfarms by 521.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,395 shares of the company’s stock worth $176,000 after acquiring an additional 57,383 shares during the period. Hedge funds and other institutional investors own 20.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BITF. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Bitfarms in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price objective on shares of Bitfarms in a research report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3.66.

Bitfarms Stock Performance

Shares of BITF opened at $2.25 on Monday. Bitfarms Ltd. has a 52 week low of $1.01 and a 52 week high of $3.91. The company has a quick ratio of 5.09, a current ratio of 3.70 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.02 billion, a P/E ratio of -6.25 and a beta of 3.64. The business’s 50 day moving average price is $2.04 and its 200-day moving average price is $2.24.

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.