737,084 Shares in Bitfarms Ltd. (NASDAQ:BITF) Purchased by Quadrature Capital Ltd

Quadrature Capital Ltd bought a new position in Bitfarms Ltd. (NASDAQ:BITF) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 737,084 shares of the company’s stock, valued at approximately $1,640,000. Quadrature Capital Ltd owned approximately 0.21% of Bitfarms at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Vontobel Holding Ltd. lifted its position in shares of Bitfarms by 7.8% in the fourth quarter. Vontobel Holding Ltd. now owns 81,747 shares of the company’s stock worth $238,000 after buying an additional 5,900 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Bitfarms by 39.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,188 shares of the company’s stock valued at $70,000 after purchasing an additional 6,837 shares during the period. Headlands Technologies LLC raised its position in Bitfarms by 64.7% during the fourth quarter. Headlands Technologies LLC now owns 18,908 shares of the company’s stock valued at $55,000 after purchasing an additional 7,429 shares during the period. Capital Performance Advisors LLP purchased a new stake in Bitfarms during the fourth quarter valued at approximately $29,000. Finally, Evanson Asset Management LLC raised its position in Bitfarms by 58.1% during the first quarter. Evanson Asset Management LLC now owns 28,456 shares of the company’s stock valued at $63,000 after purchasing an additional 10,457 shares during the period. 20.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on Bitfarms in a research report on Tuesday, June 11th. They set an “overweight” rating and a $5.00 price objective on the stock. B. Riley cut their target price on Bitfarms from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. Northland Securities assumed coverage on Bitfarms in a research note on Thursday, April 25th. They set an “outperform” rating and a $4.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Bitfarms in a research note on Thursday, July 18th. Finally, Stifel Nicolaus cut Bitfarms from a “speculative buy” rating to a “hold” rating and cut their target price for the company from $3.25 to $2.30 in a research note on Thursday, May 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Bitfarms presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.88.

Bitfarms Stock Up 4.3 %

NASDAQ BITF traded up $0.11 during midday trading on Friday, hitting $2.69. 20,502,093 shares of the company traded hands, compared to its average volume of 22,221,860. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.02 and a quick ratio of 3.02. The company has a market cap of $1.15 billion, a PE ratio of -7.08 and a beta of 3.68. The company’s 50-day simple moving average is $2.55 and its 200-day simple moving average is $2.40. Bitfarms Ltd. has a 52 week low of $0.92 and a 52 week high of $3.91.

Bitfarms (NASDAQ:BITF) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. Bitfarms had a negative return on equity of 19.24% and a negative net margin of 64.06%. The firm had revenue of $50.32 million during the quarter, compared to analyst estimates of $50.51 million. As a group, equities research analysts forecast that Bitfarms Ltd. will post -0.23 earnings per share for the current year.

Bitfarms 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.