530,747 Shares in Bitfarms Ltd. (NASDAQ:BITF) Bought by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) during the fourth quarter, HoldingsChannel reports. The fund purchased 530,747 shares of the company’s stock, valued at approximately $791,000.

Several other large investors have also made changes to their positions in the business. Lifeworks Advisors LLC raised its stake in Bitfarms by 42.4% during the 4th quarter. Lifeworks Advisors LLC now owns 24,664 shares of the company’s stock valued at $37,000 after purchasing an additional 7,339 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Bitfarms by 121.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,501,953 shares of the company’s stock valued at $3,728,000 after buying an additional 1,370,102 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Bitfarms in the fourth quarter worth $130,000. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Bitfarms during the fourth quarter worth $134,000. Finally, SRN Advisors LLC bought a new position in shares of Bitfarms during the fourth quarter worth $1,192,000. 20.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on BITF shares. Alliance Global Partners began coverage on shares of Bitfarms in a report on Wednesday, December 4th. They issued a “buy” rating and a $6.00 price target on the stock. Keefe, Bruyette & Woods started coverage on Bitfarms in a research report on Wednesday, January 8th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.05.

Bitfarms Stock Down 6.9 %

Shares of NASDAQ:BITF opened at $0.99 on Thursday. The company has a market cap of $473.20 million, a price-to-earnings ratio of -2.74 and a beta of 3.68. Bitfarms Ltd. has a 12 month low of $0.98 and a 12 month high of $3.28. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $1.30 and a 200 day moving average price of $1.73.

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.