Chesapeake Capital Corp IL Acquires 4,800 Shares of Bitfarms Ltd. (NASDAQ:BITF)

Chesapeake Capital Corp IL boosted its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF) by 27.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,000 shares of the company’s stock after purchasing an additional 4,800 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Bitfarms were worth $50,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BITF. Lifeworks Advisors LLC acquired a new position in Bitfarms in the 3rd quarter valued at approximately $37,000. WINTON GROUP Ltd acquired a new position in Bitfarms in the 2nd quarter valued at approximately $38,000. Shell Asset Management Co. acquired a new position in Bitfarms in the 1st quarter valued at approximately $43,000. HBW Advisory Services LLC acquired a new position in Bitfarms in the 3rd quarter valued at approximately $63,000. Finally, Bayesian Capital Management LP raised its holdings in Bitfarms by 116.3% in the 1st quarter. Bayesian Capital Management LP now owns 63,600 shares of the company’s stock valued at $142,000 after acquiring an additional 34,200 shares in the last quarter. Institutional investors and hedge funds own 20.59% of the company’s stock.

Bitfarms Trading Up 6.6 %

Shares of BITF opened at $2.25 on Monday. The stock has a market cap of $1.02 billion, a PE ratio of -6.25 and a beta of 3.64. Bitfarms Ltd. has a 1 year low of $1.01 and a 1 year high of $3.91. The stock has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $2.24. The company has a current ratio of 3.70, a quick ratio of 5.09 and a debt-to-equity ratio of 0.04.

Analysts Set New Price Targets

Several equities analysts have commented on BITF shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 price target on shares of Bitfarms in a report on Thursday, October 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of Bitfarms in a report on Thursday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bitfarms currently has an average rating of “Moderate Buy” and an average price target of $3.66.

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.