Barclays PLC Takes Position in Bitfarms Ltd. (NASDAQ:BITF)

Barclays PLC purchased a new position in Bitfarms Ltd. (NASDAQ:BITF) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 76,402 shares of the company’s stock, valued at approximately $161,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BITF. HighTower Advisors LLC acquired a new position in shares of Bitfarms in the 3rd quarter valued at approximately $25,000. WINTON GROUP Ltd bought a new stake in shares of Bitfarms in the second quarter worth $38,000. Lifeworks Advisors LLC bought a new stake in shares of Bitfarms in the third quarter worth $37,000. Chesapeake Capital Corp IL raised its holdings in Bitfarms by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company’s stock valued at $50,000 after acquiring an additional 4,800 shares in the last quarter. Finally, HBW Advisory Services LLC bought a new position in Bitfarms during the 3rd quarter valued at $63,000. Hedge funds and other institutional investors own 20.59% of the company’s stock.

Wall Street Analyst Weigh In

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

Bitfarms Stock Performance

Shares of NASDAQ BITF opened at $1.69 on Wednesday. The company has a quick ratio of 3.68, a current ratio of 3.70 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $1.98 and its two-hundred day moving average price is $2.16. Bitfarms Ltd. has a 52-week low of $1.48 and a 52-week high of $3.91. The stock has a market capitalization of $765.46 million, a P/E ratio of -4.69 and a beta of 3.67.

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.