WINTON GROUP Ltd Purchases Shares of 14,610 Bitfarms Ltd. (NASDAQ:BITF)

WINTON GROUP Ltd purchased a new position in Bitfarms Ltd. (NASDAQ:BITF) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 14,610 shares of the company’s stock, valued at approximately $38,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. VitalStone Financial LLC acquired a new position in shares of Bitfarms in the 1st quarter valued at $37,000. Shell Asset Management Co. acquired a new position in Bitfarms in the first quarter worth about $43,000. CCG Wealth Management LLC acquired a new position in Bitfarms in the first quarter worth about $50,000. Vanguard Personalized Indexing Management LLC lifted its stake in Bitfarms by 39.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,188 shares of the company’s stock worth $70,000 after purchasing an additional 6,837 shares during the period. Finally, Evanson Asset Management LLC boosted its holdings in Bitfarms by 58.1% during the first quarter. Evanson Asset Management LLC now owns 28,456 shares of the company’s stock valued at $63,000 after purchasing an additional 10,457 shares in the last quarter. Institutional investors own 20.59% of the company’s stock.

Bitfarms Trading Up 3.6 %

BITF opened at $2.03 on Friday. Bitfarms Ltd. has a 1-year low of $0.92 and a 1-year high of $3.91. The firm has a 50-day moving average price of $2.31 and a two-hundred day moving average price of $2.27. The stock has a market capitalization of $830.89 million, a PE ratio of -5.34 and a beta of 3.64. The company has a current ratio of 5.11, a quick ratio of 5.09 and a debt-to-equity ratio of 0.03.

Bitfarms (NASDAQ:BITF) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The firm had revenue of $41.55 million for the quarter, compared to analyst estimates of $44.59 million. Bitfarms had a negative return on equity of 18.94% and a negative net margin of 62.79%. As a group, equities analysts anticipate that Bitfarms Ltd. will post -0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BITF shares. Stifel Nicolaus cut Bitfarms from a “speculative buy” rating to a “hold” rating and dropped their target price for the stock from $3.25 to $2.30 in a report on Thursday, May 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 target price on shares of Bitfarms in a report on Tuesday, September 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Bitfarms in a report on Thursday, August 22nd. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.66.

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.