Bitfarms Ltd. $BITF Shares Bought by TD Asset Management Inc

TD Asset Management Inc lifted its stake in Bitfarms Ltd. (NASDAQ:BITF) by 763.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,981,025 shares of the company’s stock after acquiring an additional 4,404,402 shares during the quarter. TD Asset Management Inc owned 0.83% of Bitfarms worth $11,737,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BITF. Geode Capital Management LLC lifted its holdings in shares of Bitfarms by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,449,002 shares of the company’s stock worth $2,860,000 after acquiring an additional 125,156 shares during the last quarter. Creative Planning lifted its holdings in shares of Bitfarms by 54.0% in the 2nd quarter. Creative Planning now owns 85,580 shares of the company’s stock worth $72,000 after acquiring an additional 30,000 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Bitfarms by 1.4% in the 2nd quarter. Cetera Investment Advisers now owns 789,700 shares of the company’s stock worth $664,000 after acquiring an additional 10,622 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Bitfarms by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 370,869 shares of the company’s stock worth $309,000 after acquiring an additional 14,513 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Bitfarms by 40.4% in the 2nd quarter. Invesco Ltd. now owns 13,234,973 shares of the company’s stock worth $11,120,000 after acquiring an additional 3,806,810 shares during the last quarter. 20.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright decreased their price objective on shares of Bitfarms from $4.00 to $3.70 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.14.

Bitfarms Price Performance

Bitfarms stock opened at $5.13 on Tuesday. The firm has a market cap of $3.09 billion, a PE ratio of -22.30 and a beta of 3.77. Bitfarms Ltd. has a 52-week low of $0.70 and a 52-week high of $6.60. The company has a quick ratio of 3.14, a current ratio of 3.20 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $3.61 and its two-hundred day moving average is $2.89.

About Bitfarms

Bitfarms Ltd. is a publicly traded, vertically integrated Bitcoin mining company listed on the NASDAQ under the ticker BITF. The company engages in the large-scale operation of cryptocurrency mining farms, leveraging specialized computing hardware to validate and secure the Bitcoin blockchain. By converting electrical energy into computing power, Bitfarms plays a critical role in processing transactions on the Bitcoin network and earning mining rewards.

Bitfarms operates data centers in several jurisdictions with access to low-cost, primarily renewable energy sources.