Public Employees Retirement System of Ohio Makes New $201,000 Investment in Bitfarms Ltd. (NASDAQ:BITF)

Public Employees Retirement System of Ohio bought a new stake in Bitfarms Ltd. (NASDAQ:BITF) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 95,490 shares of the company’s stock, valued at approximately $201,000.

A number of other large investors have also recently added to or reduced their stakes in BITF. Cetera Investment Advisers raised its holdings in shares of Bitfarms by 42.7% in the 2nd quarter. Cetera Investment Advisers now owns 999,783 shares of the company’s stock valued at $2,579,000 after purchasing an additional 299,273 shares during the period. K2 Principal Fund L.P. bought a new stake in Bitfarms in the second quarter valued at approximately $816,000. Marshall Wace LLP acquired a new stake in shares of Bitfarms in the second quarter valued at approximately $4,016,000. Van ECK Associates Corp lifted its position in shares of Bitfarms by 17.7% in the third quarter. Van ECK Associates Corp now owns 6,075,744 shares of the company’s stock valued at $11,969,000 after buying an additional 911,952 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Bitfarms by 22.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,562 shares of the company’s stock worth $176,000 after acquiring an additional 15,167 shares during the period. Institutional investors and hedge funds own 20.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BITF shares. Alliance Global Partners started coverage on Bitfarms in a research note on Wednesday, December 4th. They issued a “buy” rating and a $6.00 price target on the stock. Stifel Canada upgraded shares of Bitfarms from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price target on shares of Bitfarms in a research note on Thursday, October 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Bitfarms in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.05.

Bitfarms Trading Down 0.6 %

BITF stock opened at $1.68 on Friday. Bitfarms Ltd. has a 52 week low of $1.52 and a 52 week high of $3.91. The company has a market capitalization of $760.93 million, a PE ratio of -4.67 and a beta of 3.59. The company’s 50-day simple moving average is $2.07 and its 200 day simple moving average is $2.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70.

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.