Toroso Investments LLC boosted its holdings in Bitfarms Ltd. (NASDAQ:BITF – Free Report) by 10,645.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,988,722 shares of the company’s stock after buying an additional 1,970,215 shares during the quarter. Toroso Investments LLC owned approximately 0.91% of Bitfarms worth $1,929,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Simplicity Solutions LLC acquired a new stake in Bitfarms during the 1st quarter valued at approximately $30,000. UBS Group AG increased its position in Bitfarms by 76.3% during the 2nd quarter. UBS Group AG now owns 30,793 shares of the company’s stock valued at $34,000 after purchasing an additional 13,327 shares during the period. Tower Research Capital LLC TRC increased its position in Bitfarms by 1,237.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 35,585 shares of the company’s stock valued at $37,000 after purchasing an additional 32,925 shares during the period. Selway Asset Management increased its position in Bitfarms by 195.9% during the 4th quarter. Selway Asset Management now owns 100,000 shares of the company’s stock valued at $44,000 after purchasing an additional 66,200 shares during the period. Finally, HRT Financial LP acquired a new stake in shares of Bitfarms during the 1st quarter worth approximately $46,000. Institutional investors own 15.31% of the company’s stock.
Bitfarms Stock Performance
NASDAQ BITF opened at $1.17 on Friday. The company has a fifty day simple moving average of $1.52 and a 200 day simple moving average of $1.25. Bitfarms Ltd. has a 12-month low of $0.38 and a 12-month high of $2.16. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.05. The company has a market cap of $256.67 million, a P/E ratio of -1.98 and a beta of 3.25.
Analyst Ratings Changes
Several brokerages have recently commented on BITF. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.00 price objective on shares of Bitfarms in a research report on Tuesday, September 5th. Compass Point raised their price objective on shares of Bitfarms from $4.50 to $5.00 in a research report on Wednesday, August 9th. Finally, HC Wainwright raised their price objective on shares of Bitfarms from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th.
Read Our Latest Stock Analysis on Bitfarms
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.
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