Baader Bank Aktiengesellschaft Increases Stock Holdings in Bitfarms Ltd. (NASDAQ:BITF)

Baader Bank Aktiengesellschaft raised its stake in Bitfarms Ltd. (NASDAQ:BITF) by 245.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 700,300 shares of the company’s stock after acquiring an additional 497,789 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Bitfarms were worth $1,043,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Marshall Wace LLP acquired a new stake in shares of Bitfarms during the second quarter worth $4,016,000. Mackenzie Financial Corp increased its position in shares of Bitfarms by 67.3% in the second quarter. Mackenzie Financial Corp now owns 153,189 shares of the company’s stock valued at $395,000 after buying an additional 61,624 shares in the last quarter. Cetera Investment Advisers increased its position in Bitfarms by 42.7% during the 2nd quarter. Cetera Investment Advisers now owns 999,783 shares of the company’s stock worth $2,579,000 after purchasing an additional 299,273 shares in the last quarter. HBW Advisory Services LLC purchased a new stake in Bitfarms in the 3rd quarter valued at about $63,000. Finally, Gladstone Institutional Advisory LLC lifted its stake in shares of Bitfarms by 3.2% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 159,550 shares of the company’s stock valued at $337,000 after purchasing an additional 5,000 shares in the last quarter. 20.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on BITF. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 price objective on shares of Bitfarms in a research note on Thursday, October 3rd. Alliance Global Partners began coverage on Bitfarms in a report on Wednesday, December 4th. They issued a “buy” rating and a $6.00 price target for the company. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Bitfarms in a research note on Thursday, November 14th. Stifel Canada upgraded Bitfarms from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods began coverage on Bitfarms in a research note on Wednesday, January 8th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.05.

Bitfarms Stock Performance

BITF opened at $1.44 on Thursday. Bitfarms Ltd. has a 52-week low of $1.36 and a 52-week high of $3.91. The firm has a market capitalization of $652.22 million, a PE ratio of -4.00 and a beta of 3.67. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70. The business’s 50-day simple moving average is $1.79 and its 200 day simple moving average is $2.05.

About Bitfarms

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.