Nwam LLC Invests $156,000 in Bitfarms Ltd. (NASDAQ:BITF)

Nwam LLC acquired a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 73,781 shares of the company’s stock, valued at approximately $156,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lifeworks Advisors LLC bought a new stake in shares of Bitfarms in the 3rd quarter worth approximately $37,000. WINTON GROUP Ltd acquired a new stake in shares of Bitfarms during the 2nd quarter valued at $38,000. Shell Asset Management Co. bought a new stake in shares of Bitfarms during the 1st quarter worth $43,000. Chesapeake Capital Corp IL grew its holdings in shares of Bitfarms by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company’s stock worth $50,000 after acquiring an additional 4,800 shares during the last quarter. Finally, HBW Advisory Services LLC acquired a new position in shares of Bitfarms in the 3rd quarter worth $63,000. Institutional investors own 20.59% of the company’s stock.

Wall Street Analysts Forecast Growth

BITF has been the subject of a number of recent analyst reports. Stifel Canada upgraded Bitfarms from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 22nd. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of Bitfarms in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 target price on shares of Bitfarms in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Bitfarms currently has a consensus rating of “Moderate Buy” and an average price target of $3.66.

Bitfarms Trading Down 3.9 %

Shares of NASDAQ BITF opened at $1.97 on Wednesday. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04. Bitfarms Ltd. has a one year low of $1.03 and a one year high of $3.91. The business has a 50-day moving average price of $2.06 and a two-hundred day moving average price of $2.25. The firm has a market capitalization of $892.27 million, a PE ratio of -5.47 and a beta of 3.64.

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.