30,000 Shares in Bitfarms Ltd. (NASDAQ:BITF) Purchased by HBW Advisory Services LLC

HBW Advisory Services LLC bought a new position in shares of Bitfarms Ltd. (NASDAQ:BITF) during the third quarter, Holdings Channel.com reports. The firm bought 30,000 shares of the company’s stock, valued at approximately $63,000.

Several other institutional investors have also recently made changes to their positions in BITF. VitalStone Financial LLC bought a new position in Bitfarms in the first quarter worth $37,000. WINTON GROUP Ltd bought a new position in shares of Bitfarms in the 2nd quarter worth about $38,000. Shell Asset Management Co. purchased a new position in Bitfarms during the 1st quarter valued at about $43,000. CCG Wealth Management LLC bought a new stake in Bitfarms during the first quarter worth about $50,000. Finally, Evanson Asset Management LLC grew its holdings in Bitfarms by 58.1% in the first quarter. Evanson Asset Management LLC now owns 28,456 shares of the company’s stock worth $63,000 after purchasing an additional 10,457 shares during the period. Institutional investors own 20.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BITF shares. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Bitfarms in a report on Monday, September 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 target price on shares of Bitfarms in a research note on Thursday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.66.

Bitfarms Price Performance

BITF opened at $2.02 on Friday. The company’s 50-day simple moving average is $2.16 and its two-hundred day simple moving average is $2.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.09 and a current ratio of 5.11. The stock has a market capitalization of $826.80 million, a P/E ratio of -5.32 and a beta of 3.63. Bitfarms Ltd. has a 52-week low of $0.92 and a 52-week high of $3.91.

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