Alberta Investment Management Corp Takes $215,000 Position in Bitfarms Ltd. (NASDAQ:BITF)

Alberta Investment Management Corp bought a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) in the 4th quarter, HoldingsChannel reports. The fund bought 145,000 shares of the company’s stock, valued at approximately $215,000.

Several other large investors have also recently made changes to their positions in the business. Chesapeake Capital Corp IL increased its position in shares of Bitfarms by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company’s stock valued at $50,000 after purchasing an additional 4,800 shares during the last quarter. Gladstone Institutional Advisory LLC increased its holdings in Bitfarms by 3.2% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 159,550 shares of the company’s stock worth $337,000 after acquiring an additional 5,000 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Bitfarms in the 3rd quarter worth about $25,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Bitfarms by 22.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,562 shares of the company’s stock worth $176,000 after acquiring an additional 15,167 shares during the last quarter. Finally, Lifeworks Advisors LLC purchased a new stake in Bitfarms in the 3rd quarter worth about $37,000. 20.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on BITF. Alliance Global Partners began coverage on Bitfarms in a report on Wednesday, December 4th. They issued a “buy” rating and a $6.00 price objective for the company. Keefe, Bruyette & Woods began coverage on Bitfarms in a report on Wednesday, January 8th. They issued an “outperform” rating for the company. HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of Bitfarms in a report on Thursday, November 14th. Finally, Stifel Canada raised Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Bitfarms has a consensus rating of “Moderate Buy” and a consensus price target of $4.05.

Bitfarms Stock Down 5.0 %

BITF stock opened at $1.32 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 firm has a market capitalization of $632.72 million, a PE ratio of -3.67 and a beta of 3.64. Bitfarms Ltd. has a twelve month low of $1.28 and a twelve month high of $3.91. The stock has a 50-day simple moving average of $1.57 and a two-hundred day simple moving average of $1.91.

Bitfarms 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.