Baader Bank Aktiengesellschaft Buys 369,192 Shares of Bitfarms Ltd. $BITF

Baader Bank Aktiengesellschaft raised its stake in Bitfarms Ltd. (NASDAQ:BITF) by 257.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 512,697 shares of the company’s stock after purchasing an additional 369,192 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Bitfarms were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Western Wealth Management LLC boosted its holdings in shares of Bitfarms by 12.8% in the 3rd quarter. Western Wealth Management LLC now owns 26,586 shares of the company’s stock valued at $75,000 after buying an additional 3,024 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Bitfarms by 36.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 39,389 shares of the company’s stock valued at $111,000 after acquiring an additional 10,619 shares during the last quarter. Cetera Investment Advisers lifted its position in Bitfarms by 1.4% during the second quarter. Cetera Investment Advisers now owns 789,700 shares of the company’s stock valued at $664,000 after acquiring an additional 10,622 shares during the last quarter. Legal & General Group Plc boosted its stake in Bitfarms by 4.1% in the second quarter. Legal & General Group Plc now owns 370,869 shares of the company’s stock valued at $309,000 after acquiring an additional 14,513 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Bitfarms by 6.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 267,846 shares of the company’s stock worth $755,000 after purchasing an additional 16,724 shares during the last quarter. 20.59% of the stock is currently owned by institutional investors.

Bitfarms Stock Performance

Shares of BITF stock opened at $2.20 on Wednesday. The business has a fifty day moving average of $2.63 and a 200 day moving average of $2.68. Bitfarms Ltd. has a 1 year low of $0.67 and a 1 year high of $6.60. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.20 and a quick ratio of 3.14. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -9.57 and a beta of 3.81.

Bitfarms (NASDAQ:BITF) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). Bitfarms had a negative return on equity of 4.48% and a negative net margin of 48.26%.The business had revenue of $69.25 million for the quarter, compared to analyst estimates of $84.66 million. As a group, research analysts expect that Bitfarms Ltd. will post -0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

BITF has been the subject of several analyst reports. B. Riley Financial reiterated a “buy” rating on shares of Bitfarms in a report on Wednesday, October 22nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $3.00 target price (up from $2.50) on shares of Bitfarms in a research report on Tuesday, January 27th. Cantor Fitzgerald increased their price target on Bitfarms from $2.20 to $5.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Wall Street Zen downgraded Bitfarms from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bitfarms in a report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.04.

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.