Baader Bank Aktiengesellschaft Reduces Position in Bitfarms Ltd. $BITF

Baader Bank Aktiengesellschaft decreased its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF) by 35.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 410,446 shares of the company’s stock after selling 223,527 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Bitfarms were worth $791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BITF. Bank of New York Mellon Corp lifted its stake in shares of Bitfarms by 39.5% during the 1st quarter. Bank of New York Mellon Corp now owns 14,659 shares of the company’s stock worth $29,000 after acquiring an additional 4,154 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its stake in shares of Bitfarms by 3.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 180,200 shares of the company’s stock valued at $425,000 after purchasing an additional 5,200 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Bitfarms by 144.7% in the fourth quarter. Farther Finance Advisors LLC now owns 11,010 shares of the company’s stock worth $26,000 after purchasing an additional 6,510 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Bitfarms by 9.6% in the fourth quarter. LPL Financial LLC now owns 86,997 shares of the company’s stock worth $204,000 after purchasing an additional 7,641 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Bitfarms by 1.4% in the 2nd quarter. Cetera Investment Advisers now owns 789,700 shares of the company’s stock worth $664,000 after buying an additional 10,622 shares during the period. 20.59% of the stock is owned by institutional investors.

Bitfarms Stock Up 9.9%

Bitfarms stock opened at $4.34 on Wednesday. The business’s 50-day simple moving average is $5.18 and its two-hundred day simple moving average is $3.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.14 and a current ratio of 3.20. The company has a market cap of $2.62 billion, a PE ratio of -18.87 and a beta of 3.77. Bitfarms Ltd. has a fifty-two week low of $0.70 and a fifty-two week high of $6.60.

Wall Street Analyst Weigh In

Separately, HC Wainwright lowered their price objective on shares of Bitfarms from $4.00 to $3.70 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.67.

About Bitfarms

Bitfarms Ltd. is a publicly traded, vertically integrated Bitcoin mining company listed on the NASDAQ under the ticker BITF. The company engages in the large-scale operation of cryptocurrency mining farms, leveraging specialized computing hardware to validate and secure the Bitcoin blockchain. By converting electrical energy into computing power, Bitfarms plays a critical role in processing transactions on the Bitcoin network and earning mining rewards.

Bitfarms operates data centers in several jurisdictions with access to low-cost, primarily renewable energy sources.