Barclays PLC Makes New $161,000 Investment in Bitfarms Ltd. (NASDAQ:BITF)

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

Several other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC bought a new stake in Bitfarms during the third quarter valued at about $25,000. Lifeworks Advisors LLC purchased a new position in Bitfarms during the third quarter valued at approximately $37,000. Chesapeake Capital Corp IL raised its position in Bitfarms by 27.9% during 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. HBW Advisory Services LLC purchased a new stake in shares of Bitfarms in the third quarter valued at approximately $63,000. Finally, Nwam LLC acquired a new position in shares of Bitfarms during the 3rd quarter worth approximately $156,000. Hedge funds and other institutional investors own 20.59% of the company’s stock.

Wall Street Analysts Forecast Growth

BITF has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of Bitfarms in a research note on Thursday, October 3rd. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Bitfarms in a report on Thursday, November 14th. Keefe, Bruyette & Woods assumed coverage on Bitfarms in a report on Wednesday, January 8th. They set an “outperform” rating for the company. Alliance Global Partners started coverage on Bitfarms in a report on Wednesday, December 4th. They set a “buy” rating and a $6.00 price target for the company. Finally, Stifel Canada upgraded 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 six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.05.

Bitfarms Trading Down 0.6 %

Shares of BITF stock opened at $1.66 on Thursday. The business’s 50 day moving average is $1.86 and its two-hundred day moving average is $2.08. Bitfarms Ltd. has a twelve month low of $1.47 and a twelve month high of $3.91. The company has a market capitalization of $751.86 million, a P/E ratio of -4.61 and a beta of 3.67. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04.

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.