Bitfarms Ltd. $BITF Shares Bought by TD Asset Management Inc

TD Asset Management Inc boosted its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF) by 763.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,981,025 shares of the company’s stock after buying an additional 4,404,402 shares during the period. TD Asset Management Inc’s holdings in Bitfarms were worth $11,737,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BITF. Aurelius Capital Management LP acquired a new stake in shares of Bitfarms in the 3rd quarter valued at $18,999,000. Vident Advisory LLC raised its holdings in shares of Bitfarms by 70.0% in the 2nd quarter. Vident Advisory LLC now owns 11,364,106 shares of the company’s stock valued at $9,538,000 after purchasing an additional 4,677,425 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Bitfarms in the 3rd quarter valued at $12,381,000. Azora Capital LP acquired a new stake in shares of Bitfarms in the 3rd quarter valued at $11,545,000. Finally, Millennium Management LLC raised its holdings in shares of Bitfarms by 1,383.1% in the 3rd quarter. Millennium Management LLC now owns 4,082,126 shares of the company’s stock valued at $11,516,000 after purchasing an additional 3,806,882 shares in the last quarter. 20.59% of the stock is currently owned by institutional investors and hedge funds.

Bitfarms Trading Down 13.5%

NASDAQ BITF opened at $5.13 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.20 and a quick ratio of 3.14. The firm’s fifty day moving average price is $3.61 and its 200 day moving average price is $2.89. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -22.30 and a beta of 3.77. Bitfarms Ltd. has a 12 month low of $0.70 and a 12 month high of $6.60.

Analyst Ratings Changes

Separately, HC Wainwright reduced their price objective on shares of Bitfarms from $4.00 to $3.70 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bitfarms has an average rating of “Moderate Buy” and an average price target of $4.14.

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.