Bitfarms Ltd. (NASDAQ:BITF) Stock Holdings Lifted by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL raised its position in Bitfarms Ltd. (NASDAQ:BITF) by 27.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,000 shares of the company’s stock after purchasing an additional 4,800 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Bitfarms were worth $50,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BITF. Tidal Investments LLC grew its stake in Bitfarms by 58.4% in the first quarter. Tidal Investments LLC now owns 6,975,538 shares of the company’s stock valued at $15,555,000 after purchasing an additional 2,571,647 shares in the last quarter. Marshall Wace LLP purchased a new position in Bitfarms in the second quarter valued at about $4,016,000. Van ECK Associates Corp boosted its stake in shares of Bitfarms by 37.4% during the 2nd quarter. Van ECK Associates Corp now owns 5,163,792 shares of the company’s stock worth $13,271,000 after acquiring an additional 1,404,895 shares in the last quarter. Vident Advisory LLC boosted its stake in shares of Bitfarms by 51.4% during the 1st quarter. Vident Advisory LLC now owns 2,606,970 shares of the company’s stock worth $5,812,000 after acquiring an additional 885,217 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Bitfarms during the 1st quarter worth about $1,640,000. Hedge funds and other institutional investors own 20.59% of the company’s stock.

Analyst Upgrades and Downgrades

BITF has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price target on shares of Bitfarms in a research note on Thursday, October 3rd. HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Bitfarms in a research note on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Bitfarms currently has a consensus rating of “Moderate Buy” and an average price target of $3.66.

Bitfarms Price Performance

Shares of NASDAQ:BITF opened at $2.25 on Monday. The business has a 50 day moving average price of $2.04 and a 200 day moving average price of $2.24. Bitfarms Ltd. has a twelve month low of $1.01 and a twelve month high of $3.91. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -6.25 and a beta of 3.64. The company has a quick ratio of 5.09, a current ratio of 3.70 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.