Guided Capital Wealth Management LLC Purchases New Shares in Bitfarms Ltd. (NASDAQ:BITF)

Guided Capital Wealth Management LLC purchased a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,000 shares of the company’s stock, valued at approximately $30,000.

Other hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC bought a new stake in shares of Bitfarms during the third quarter valued at approximately $25,000. Lifeworks Advisors LLC bought a new stake in Bitfarms in the third quarter worth $37,000. Money Concepts Capital Corp bought a new stake in Bitfarms in the fourth quarter worth $30,000. Chesapeake Capital Corp IL boosted its holdings in Bitfarms by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company’s stock worth $50,000 after acquiring an additional 4,800 shares in the last quarter. Finally, Nwam LLC bought a new stake in Bitfarms in the third quarter worth $156,000. 20.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on BITF. Stifel Canada raised Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. HC Wainwright reissued a “buy” rating and issued a $4.00 target price on shares of Bitfarms in a report on Thursday, November 14th. 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 on the stock. Finally, Keefe, Bruyette & Woods began coverage on Bitfarms in a report on Wednesday, January 8th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.05.

Bitfarms Trading Down 5.8 %

Shares of NASDAQ:BITF opened at $1.31 on Wednesday. The company has a market cap of $593.34 million, a P/E ratio of -3.64 and a beta of 3.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.70 and a quick ratio of 3.68. Bitfarms Ltd. has a 1 year low of $1.31 and a 1 year high of $3.91. The stock’s fifty day moving average price is $1.68 and its 200-day moving average price is $1.96.

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.