Lifeworks Advisors LLC Acquires New Shares in Bitfarms Ltd. (NASDAQ:BITF)

Lifeworks Advisors LLC bought a new position in shares of Bitfarms Ltd. (NASDAQ:BITF) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,325 shares of the company’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Swiss National Bank bought a new stake in shares of Bitfarms during the 1st quarter valued at approximately $1,426,000. Shell Asset Management Co. acquired a new position in shares of Bitfarms during the first quarter worth $43,000. Vident Advisory LLC lifted its stake in shares of Bitfarms by 51.4% in the 1st quarter. Vident Advisory LLC now owns 2,606,970 shares of the company’s stock valued at $5,812,000 after acquiring an additional 885,217 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Bitfarms during the 1st quarter valued at $1,640,000. Finally, Bayesian Capital Management LP grew its position in Bitfarms by 116.3% during the 1st quarter. Bayesian Capital Management LP now owns 63,600 shares of the company’s stock worth $142,000 after acquiring an additional 34,200 shares during the last quarter. Institutional investors own 20.59% of the company’s stock.

Wall Street Analyst Weigh In

BITF has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Bitfarms in a research report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price objective on shares of Bitfarms in a report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bitfarms has a consensus rating of “Moderate Buy” and a consensus price target of $3.66.

Bitfarms Stock Up 6.6 %

Shares of BITF opened at $2.25 on Friday. The company has a market capitalization of $1.02 billion, a PE ratio of -6.25 and a beta of 3.64. The stock’s 50-day moving average price is $2.04 and its two-hundred day moving average price is $2.23. The company has a current ratio of 5.11, a quick ratio of 5.09 and a debt-to-equity ratio of 0.03. Bitfarms Ltd. has a 12 month low of $1.01 and a 12 month high of $3.91.

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.