UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 70,462 Shares of Bitfarms Ltd. (NASDAQ:BITF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF) by 21.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 259,722 shares of the company’s stock after selling 70,462 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.06% of Bitfarms worth $548,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bitfarms by 521.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,395 shares of the company’s stock worth $176,000 after buying an additional 57,383 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Bitfarms by 37.4% in the second quarter. Van ECK Associates Corp now owns 5,163,792 shares of the company’s stock worth $13,271,000 after buying an additional 1,404,895 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Bitfarms by 70.0% in the second quarter. TD Asset Management Inc now owns 343,395 shares of the company’s stock valued at $886,000 after acquiring an additional 141,424 shares during the period. Impact Partnership Wealth LLC grew its stake in Bitfarms by 227.6% during the second quarter. Impact Partnership Wealth LLC now owns 70,570 shares of the company’s stock valued at $181,000 after acquiring an additional 49,029 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Bitfarms in the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 20.59% of the company’s stock.

Bitfarms Price Performance

Shares of Bitfarms stock opened at $1.68 on Friday. The company’s fifty day simple moving average is $2.07 and its two-hundred day simple moving average is $2.25. The firm has a market cap of $760.93 million, a PE ratio of -4.67 and a beta of 3.59. The company has a quick ratio of 3.68, a current ratio of 3.70 and a debt-to-equity ratio of 0.04. Bitfarms Ltd. has a 12-month low of $1.52 and a 12-month high of $3.91.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Stifel Canada raised Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price objective on shares of Bitfarms in a report on Thursday, October 3rd. HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Bitfarms in a research report on Thursday, November 14th. Finally, Alliance Global Partners started coverage on shares of Bitfarms in a research report on Wednesday, December 4th. They issued a “buy” rating and a $6.00 target price on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.