Van ECK Associates Corp Has $3.83 Million Stock Holdings in Bitfarms Ltd. (NASDAQ:BITF)

Van ECK Associates Corp raised its position in shares of Bitfarms Ltd. (NASDAQ:BITFFree Report) by 18.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,580,369 shares of the company’s stock after acquiring an additional 561,342 shares during the quarter. Van ECK Associates Corp’s holdings in Bitfarms were worth $3,831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BITF. Portside Wealth Group LLC bought a new stake in shares of Bitfarms in the second quarter worth about $25,000. Lido Advisors LLC bought a new position in shares of Bitfarms during the 2nd quarter valued at approximately $28,000. Vontobel Holding Ltd. raised its stake in Bitfarms by 44.2% during the 2nd quarter. Vontobel Holding Ltd. now owns 21,544 shares of the company’s stock worth $32,000 after acquiring an additional 6,605 shares during the period. UBS Group AG lifted its holdings in Bitfarms by 76.3% during the second quarter. UBS Group AG now owns 30,793 shares of the company’s stock valued at $34,000 after purchasing an additional 13,327 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Bitfarms by 1,237.8% during the third quarter. Tower Research Capital LLC TRC now owns 35,585 shares of the company’s stock valued at $37,000 after purchasing an additional 32,925 shares in the last quarter. Hedge funds and other institutional investors own 15.31% of the company’s stock.

Bitfarms Price Performance

BITF stock opened at $3.07 on Tuesday. Bitfarms Ltd. has a one year low of $0.68 and a one year high of $3.56. The company’s fifty day moving average price is $2.58 and its 200-day moving average price is $1.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.82 and a current ratio of 2.82. The company has a market capitalization of $1.03 billion, a PE ratio of -11.81 and a beta of 3.71.

Analysts Set New Price Targets

Several brokerages have weighed in on BITF. B. Riley reaffirmed a “buy” rating and set a $4.00 price target on shares of Bitfarms in a report on Thursday, December 14th. HC Wainwright lifted their price target on shares of Bitfarms from $3.00 to $4.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Finally, Cantor Fitzgerald boosted their target price on shares of Bitfarms from $2.00 to $3.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Bitfarms presently has a consensus rating of “Buy” and an average price target of $4.00.

Check Out Our Latest Stock Analysis on BITF

Bitfarms Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Bitfarms (NASDAQ:BITF)

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