Zurcher Kantonalbank Zurich Cantonalbank Buys 15,167 Shares of Bitfarms Ltd. (NASDAQ:BITF)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Bitfarms Ltd. (NASDAQ:BITF) by 22.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,562 shares of the company’s stock after acquiring an additional 15,167 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bitfarms were worth $176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nwam LLC bought a new stake in Bitfarms in the third quarter valued at approximately $156,000. Charles Schwab Investment Management Inc. increased its position in shares of Bitfarms by 9.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,851 shares of the company’s stock valued at $2,388,000 after buying an additional 99,919 shares in the last quarter. Chesapeake Capital Corp IL increased its position in shares of Bitfarms by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company’s stock valued at $50,000 after buying an additional 4,800 shares in the last quarter. Lifeworks Advisors LLC acquired a new stake in Bitfarms during the 3rd quarter worth $37,000. Finally, Van ECK Associates Corp lifted its holdings in Bitfarms by 17.7% during the third quarter. Van ECK Associates Corp now owns 6,075,744 shares of the company’s stock worth $11,969,000 after acquiring an additional 911,952 shares in the last quarter. Institutional investors own 20.59% of the company’s stock.

Bitfarms Trading Down 6.6 %

NASDAQ BITF opened at $2.14 on Tuesday. Bitfarms Ltd. has a 52 week low of $1.52 and a 52 week high of $3.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70. The stock’s 50 day moving average price is $2.06 and its two-hundred day moving average price is $2.27. The stock has a market capitalization of $969.27 million, a price-to-earnings ratio of -5.94 and a beta of 3.59.

Analyst Ratings Changes

Several brokerages have issued reports on BITF. Stifel Canada upgraded Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. HC Wainwright reissued a “buy” rating and set a $4.00 target price on shares of Bitfarms in a research note on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 target price on shares of Bitfarms in a report on Thursday, October 3rd. Finally, Alliance Global Partners started coverage on shares of Bitfarms in a report on Wednesday, December 4th. They issued a “buy” rating and a $6.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.05.

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.