Public Employees Retirement System of Ohio Acquires New Shares in Bitfarms Ltd. (NASDAQ:BITF)

Public Employees Retirement System of Ohio bought a new position in shares of Bitfarms Ltd. (NASDAQ:BITF) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 95,490 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors also recently modified their holdings of BITF. HighTower Advisors LLC bought a new position in Bitfarms during the 3rd quarter worth approximately $25,000. Lifeworks Advisors LLC acquired a new position in shares of Bitfarms in the 3rd quarter valued at $37,000. WINTON GROUP Ltd bought a new stake in shares of Bitfarms in the 2nd quarter valued at $38,000. 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. Finally, HBW Advisory Services LLC acquired a new stake in Bitfarms during the 3rd quarter worth $63,000. 20.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on BITF shares. Stifel Canada raised Bitfarms from a “hold” rating to a “moderate buy” rating in a research note 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 reaffirmed an “overweight” rating and issued a $5.00 price target on shares of Bitfarms in a research note on Thursday, October 3rd. Finally, Alliance Global Partners began coverage on shares of Bitfarms in a research report on Wednesday, December 4th. They set a “buy” rating and a $6.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Bitfarms has an average rating of “Moderate Buy” and an average target price of $4.05.

Bitfarms Trading Down 0.6 %

NASDAQ BITF 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 52 week low of $1.52 and a 52 week high of $3.91. The stock has a market capitalization of $760.93 million, a price-to-earnings ratio of -4.67 and a beta of 3.59. The stock’s 50 day moving average price is $2.07 and its two-hundred day moving average price is $2.25.

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.