Trium Capital LLP Acquires New Holdings in Bitfarms Ltd. (NASDAQ:BITF)

Trium Capital LLP bought a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 772,573 shares of the company’s stock, valued at approximately $609,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in shares of Bitfarms by 10.0% during the fourth quarter. Mackenzie Financial Corp now owns 162,792 shares of the company’s stock worth $238,000 after buying an additional 14,865 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of Bitfarms by 87.6% during the 4th quarter. Vident Advisory LLC now owns 6,058,078 shares of the company’s stock valued at $9,016,000 after purchasing an additional 2,828,703 shares in the last quarter. Nuveen Asset Management LLC raised its position in Bitfarms by 14.5% in the 4th quarter. Nuveen Asset Management LLC now owns 287,468 shares of the company’s stock valued at $426,000 after buying an additional 36,449 shares during the last quarter. Millennium Management LLC increased its position in shares of Bitfarms by 81.1% during the 4th quarter. Millennium Management LLC now owns 536,044 shares of the company’s stock worth $799,000 after purchasing an additional 239,997 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Bitfarms by 23.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,270,442 shares of the company’s stock worth $6,327,000 after acquiring an additional 819,107 shares during the last quarter. 20.59% of the stock is currently owned by institutional investors.

Bitfarms Price Performance

Shares of Bitfarms stock opened at $1.03 on Wednesday. Bitfarms Ltd. has a one year low of $0.67 and a one year high of $3.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.58. The stock’s 50-day moving average is $0.96 and its 200 day moving average is $1.14. The firm has a market cap of $572.64 million, a price-to-earnings ratio of -5.42 and a beta of 3.45.

Bitfarms (NASDAQ:BITF) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Bitfarms had a negative return on equity of 12.70% and a negative net margin of 40.09%. The firm had revenue of $66.85 million during the quarter, compared to analysts’ expectations of $67.17 million. Equities research analysts anticipate that Bitfarms Ltd. will post -0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

BITF has been the subject of several recent analyst reports. Alliance Global Partners restated a “buy” rating on shares of Bitfarms in a research report on Wednesday, May 14th. Industrial Alliance Securities set a $3.25 target price on Bitfarms in a report on Thursday, March 27th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Bitfarms in a report on Wednesday, May 14th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $4.44.

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.