XTX Topco Ltd Makes New $254,000 Investment in Bitfarms Ltd. (NASDAQ:BITF)

XTX Topco Ltd purchased a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 120,368 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors also recently modified their holdings of the company. Marshall Wace LLP acquired a new position in Bitfarms in the 2nd quarter valued at $4,016,000. Van ECK Associates Corp boosted its holdings in Bitfarms by 37.4% during the second quarter. Van ECK Associates Corp now owns 5,163,792 shares of the company’s stock valued at $13,271,000 after acquiring an additional 1,404,895 shares during the period. Weiss Asset Management LP grew its position in shares of Bitfarms by 173.6% in the third quarter. Weiss Asset Management LP now owns 1,582,934 shares of the company’s stock valued at $3,340,000 after purchasing an additional 1,004,400 shares during the last quarter. K2 Principal Fund L.P. bought a new position in shares of Bitfarms in the second quarter worth about $816,000. Finally, Cetera Investment Advisers lifted its position in shares of Bitfarms by 42.7% during the 2nd quarter. Cetera Investment Advisers now owns 999,783 shares of the company’s stock worth $2,579,000 after purchasing an additional 299,273 shares during the last quarter. Institutional investors own 20.59% of the company’s stock.

Bitfarms Stock Down 12.1 %

BITF opened at $1.82 on Thursday. The company has a market capitalization of $824.34 million, a P/E ratio of -5.06 and a beta of 3.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.70 and a quick ratio of 3.68. The firm’s fifty day moving average price is $2.07 and its two-hundred day moving average price is $2.26. Bitfarms Ltd. has a fifty-two week low of $1.52 and a fifty-two week high of $3.91.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BITF shares. Alliance Global Partners assumed coverage on Bitfarms in a report on Wednesday, December 4th. They issued a “buy” rating and a $6.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 target price on shares of Bitfarms in a research report on Thursday, October 3rd. HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Bitfarms in a report on Thursday, November 14th. Finally, Stifel Canada upgraded shares of Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4.05.

About Bitfarms

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.