Money Concepts Capital Corp Purchases Shares of 20,000 Bitfarms Ltd. (NASDAQ:BITF)

Money Concepts Capital Corp purchased a new stake in Bitfarms Ltd. (NASDAQ:BITF) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,000 shares of the company’s stock, valued at approximately $30,000.

Other large investors have also recently added to or reduced their stakes in the company. Chesapeake Capital Corp IL grew its stake 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 valued at $50,000 after purchasing an additional 4,800 shares during the period. Gladstone Institutional Advisory LLC grew its stake in shares of Bitfarms by 3.2% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 159,550 shares of the company’s stock valued at $337,000 after purchasing an additional 5,000 shares during the period. HighTower Advisors LLC bought a new stake in shares of Bitfarms in the 3rd quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Bitfarms by 22.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,562 shares of the company’s stock valued at $176,000 after purchasing an additional 15,167 shares during the period. Finally, Lifeworks Advisors LLC bought a new stake in shares of Bitfarms in the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 20.59% of the company’s stock.

Analysts Set New Price Targets

BITF has been the topic of several analyst reports. Stifel Canada upgraded Bitfarms from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 22nd. Alliance Global Partners assumed coverage on Bitfarms in a research note on Wednesday, December 4th. They issued a “buy” rating and a $6.00 price objective on the stock. Keefe, Bruyette & Woods assumed coverage on Bitfarms in a research report on Wednesday, January 8th. They set an “outperform” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $4.00 price target on shares of Bitfarms in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.05.

Bitfarms Price Performance

Shares of BITF opened at $1.41 on Friday. The firm has a market capitalization of $638.63 million, a price-to-earnings ratio of -3.92 and a beta of 3.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70. The business’s fifty day moving average price is $1.72 and its two-hundred day moving average price is $2.00. Bitfarms Ltd. has a 52 week low of $1.31 and a 52 week high of $3.91.

About Bitfarms

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.