Central Asset Investments & Management Holdings HK Ltd Takes Position in Bitfarms Ltd. (NASDAQ:BITF)

Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Bitfarms Ltd. (NASDAQ:BITF) in the 4th quarter, Holdings Channel.com reports. The firm purchased 90,000 shares of the company’s stock, valued at approximately $134,000.

Other large investors have also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC boosted its stake in Bitfarms by 3.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 159,550 shares of the company’s stock worth $337,000 after purchasing an additional 5,000 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Bitfarms by 17.7% in the third quarter. Van ECK Associates Corp now owns 6,075,744 shares of the company’s stock worth $11,969,000 after buying an additional 911,952 shares in the last quarter. Lifeworks Advisors LLC acquired a new position in Bitfarms during the third quarter worth about $37,000. Chesapeake Capital Corp IL grew its stake in 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 acquiring an additional 4,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Bitfarms by 9.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,851 shares of the company’s stock valued at $2,388,000 after acquiring an additional 99,919 shares during the last quarter. 20.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Bitfarms in a report on Thursday, November 14th. Keefe, Bruyette & Woods initiated coverage on Bitfarms in a research note 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 price objective for the company. Finally, Stifel Canada upgraded shares of Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.05.

Bitfarms Price Performance

Shares of BITF opened at $1.13 on Thursday. The firm has a 50-day simple moving average of $1.52 and a two-hundred day simple moving average of $1.89. The stock has a market cap of $541.65 million, a PE ratio of -3.14 and a beta of 3.64. Bitfarms Ltd. has a 1-year low of $1.09 and a 1-year high of $3.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.70 and a quick ratio of 3.68.

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.