Private Advisor Group LLC Acquires Shares of 141,100 Bitfarms Ltd. (NASDAQ:BITF)

Private Advisor Group LLC purchased a new position in shares of Bitfarms Ltd. (NASDAQ:BITF) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 141,100 shares of the company’s stock, valued at approximately $210,000.

Several other large investors have also modified their holdings of the stock. HighTower Advisors LLC acquired a new stake in Bitfarms during the third quarter worth about $25,000. Lifeworks Advisors LLC acquired a new position in Bitfarms in the 3rd quarter worth approximately $37,000. Money Concepts Capital Corp acquired a new position in Bitfarms in the 4th quarter worth approximately $30,000. Guided Capital Wealth Management LLC acquired a new stake in shares of Bitfarms during the 4th quarter valued at $30,000. Finally, Chesapeake Capital Corp IL boosted its stake in shares of Bitfarms by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company’s stock valued at $50,000 after buying an additional 4,800 shares during the period. Institutional investors own 20.59% of the company’s stock.

Bitfarms Trading Down 5.1 %

BITF opened at $1.12 on Friday. Bitfarms Ltd. has a fifty-two week low of $1.06 and a fifty-two week high of $3.28. 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 company has a market cap of $536.85 million, a price-to-earnings ratio of -3.11 and a beta of 3.64. The firm has a 50 day simple moving average of $1.45 and a 200 day simple moving average of $1.84.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BITF shares. Keefe, Bruyette & Woods initiated coverage on shares of Bitfarms in a report on Wednesday, January 8th. They set an “outperform” rating on the stock. Alliance Global Partners started coverage on shares of Bitfarms in a research report on Wednesday, December 4th. They set a “buy” rating and a $6.00 target price on the stock. Stifel Canada upgraded shares of Bitfarms from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Bitfarms in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Bitfarms presently has an average rating of “Moderate Buy” and a consensus target price of $4.05.

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.