UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 70,462 Shares of Bitfarms Ltd. (NASDAQ:BITF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Bitfarms Ltd. (NASDAQ:BITF) by 21.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 259,722 shares of the company’s stock after selling 70,462 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Bitfarms were worth $548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake 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. Marshall Wace LLP bought a new stake in Bitfarms in the second quarter worth $4,016,000. Charles Schwab Investment Management Inc. grew its stake in shares of Bitfarms by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,851 shares of the company’s stock worth $2,388,000 after acquiring an additional 99,919 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Bitfarms by 42.7% during the second quarter. Cetera Investment Advisers now owns 999,783 shares of the company’s stock valued at $2,579,000 after buying an additional 299,273 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in Bitfarms by 70.0% in the 2nd quarter. TD Asset Management Inc now owns 343,395 shares of the company’s stock valued at $886,000 after acquiring an additional 141,424 shares in the last quarter. Hedge funds and other institutional investors own 20.59% of the company’s stock.

Bitfarms Trading Down 0.6 %

Shares of Bitfarms stock opened at $1.68 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70. Bitfarms Ltd. has a fifty-two week low of $1.52 and a fifty-two week high of $3.91. The company has a fifty day moving average of $2.07 and a 200 day moving average of $2.25. The company has a market capitalization of $760.93 million, a P/E ratio of -4.67 and a beta of 3.59.

Analyst Upgrades and Downgrades

BITF has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of Bitfarms in a research note on Thursday, October 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Bitfarms in a research report on Thursday, November 14th. Alliance Global Partners began coverage on Bitfarms in a report on Wednesday, December 4th. They set a “buy” rating and a $6.00 price target on the stock. Finally, Stifel Canada raised Bitfarms from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.