Central Asset Investments & Management Holdings HK Ltd Takes $134,000 Position in Bitfarms Ltd. (NASDAQ:BITF)

Central Asset Investments & Management Holdings HK Ltd acquired a new position in Bitfarms Ltd. (NASDAQ:BITF) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 90,000 shares of the company’s stock, valued at approximately $134,000.

Several other institutional investors have also recently made changes to their positions in the business. HighTower Advisors LLC purchased a new position in shares of Bitfarms during the 3rd quarter valued at about $25,000. Money Concepts Capital Corp acquired a new stake in Bitfarms during the fourth quarter worth about $30,000. Guided Capital Wealth Management LLC purchased a new position in Bitfarms during the fourth quarter valued at approximately $30,000. Olympiad Research LP acquired a new position in Bitfarms in the fourth quarter valued at approximately $36,000. Finally, Lifeworks Advisors LLC purchased a new stake in Bitfarms in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 20.59% of the company’s stock.

Wall Street Analyst Weigh In

BITF has been the subject of several recent research reports. Stifel Canada raised shares of Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. Alliance Global Partners assumed coverage on shares of Bitfarms in a research report on Wednesday, December 4th. They set a “buy” rating and a $6.00 price target on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Bitfarms in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. Finally, HC Wainwright restated a “buy” rating and set a $4.00 target price 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 given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.05.

Bitfarms Price Performance

Shares of NASDAQ BITF opened at $1.13 on Thursday. 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 firm has a fifty day moving average of $1.52 and a 200 day moving average of $1.89. The firm has a market cap of $541.65 million, a PE ratio of -3.14 and a beta of 3.64. Bitfarms Ltd. has a one year low of $1.09 and a one year high of $3.91.

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.