Impact Partnership Wealth LLC Has $132,000 Stake in Bitfarms Ltd. (NASDAQ:BITF)

Impact Partnership Wealth LLC grew its position in shares of Bitfarms Ltd. (NASDAQ:BITF) by 26.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 88,663 shares of the company’s stock after acquiring an additional 18,378 shares during the period. Impact Partnership Wealth LLC’s holdings in Bitfarms were worth $132,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. 272 Capital LP acquired a new stake in shares of Bitfarms during the 3rd quarter valued at about $222,000. Barclays PLC acquired a new stake in shares of Bitfarms during the 3rd quarter valued at about $161,000. Geode Capital Management LLC lifted its holdings in Bitfarms by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,879,454 shares of the company’s stock worth $3,965,000 after purchasing an additional 81,760 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Bitfarms in the 3rd quarter worth approximately $201,000. Finally, XTX Topco Ltd acquired a new stake in Bitfarms in the 3rd quarter worth approximately $254,000. 20.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BITF shares. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Bitfarms in a report on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 target price on shares of Bitfarms in a report on Thursday, October 3rd. Keefe, Bruyette & Woods started coverage on Bitfarms in a report on Wednesday, January 8th. They issued an “outperform” rating for the company. Stifel Canada upgraded Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. Finally, Alliance Global Partners began coverage on Bitfarms in a report on Wednesday, December 4th. They issued a “buy” rating and a $6.00 target price for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bitfarms has an average rating of “Moderate Buy” and a consensus price target of $4.05.

Bitfarms Stock Performance

Shares of NASDAQ BITF opened at $1.63 on Friday. The company has a quick ratio of 3.68, a current ratio of 3.70 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $1.84 and its two-hundred day moving average is $2.07. The company has a market cap of $738.28 million, a P/E ratio of -4.53 and a beta of 3.67. Bitfarms Ltd. has a 12 month low of $1.47 and a 12 month 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.