24,156 Shares in Bitfarms Ltd. (NASDAQ:BITF) Bought by Olympiad Research LP

Olympiad Research LP acquired a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 24,156 shares of the company’s stock, valued at approximately $36,000.

Other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in shares of Bitfarms by 106.6% in the fourth quarter. Van ECK Associates Corp now owns 12,553,729 shares of the company’s stock valued at $18,705,000 after purchasing an additional 6,477,985 shares during the last quarter. Geode Capital Management LLC grew its position 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 in the last quarter. Barclays PLC purchased a new stake in Bitfarms in the 3rd quarter valued at about $161,000. State Street Corp lifted its position in shares of Bitfarms by 1.3% during the 3rd quarter. State Street Corp now owns 4,917,729 shares of the company’s stock worth $10,376,000 after buying an additional 63,916 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its position in shares of Bitfarms by 245.8% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 700,300 shares of the company’s stock worth $1,043,000 after buying an additional 497,789 shares in the last quarter. 20.59% of the stock is owned by hedge funds and other institutional investors.

Bitfarms Trading Down 6.1 %

Shares of BITF opened at $1.24 on Tuesday. Bitfarms Ltd. has a fifty-two week low of $1.23 and a fifty-two week high of $3.91. The business has a 50-day moving average of $1.55 and a 200 day moving average of $1.90. The firm has a market cap of $594.37 million, a P/E ratio of -3.44 and a beta of 3.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods assumed coverage on Bitfarms in a report on Wednesday, January 8th. They issued an “outperform” rating for the company. Alliance Global Partners started coverage on Bitfarms in a research report on Wednesday, December 4th. They set a “buy” rating and a $6.00 target price for the company. Stifel Canada upgraded Bitfarms from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 22nd. 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 investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Bitfarms currently has an average rating of “Moderate Buy” and a consensus target price of $4.05.

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.