Bitfarms Ltd. (NASDAQ:BITF) Shares Sold by Anson Funds Management LP

Anson Funds Management LP trimmed its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF) by 66.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 481,002 shares of the company’s stock after selling 957,775 shares during the period. Anson Funds Management LP owned about 0.11% of Bitfarms worth $1,015,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. HighTower Advisors LLC acquired a new stake in Bitfarms during the 3rd quarter valued at $25,000. Lifeworks Advisors LLC acquired a new stake in shares of Bitfarms during the third quarter valued at about $37,000. WINTON GROUP Ltd purchased a new stake in Bitfarms during the 2nd quarter worth approximately $38,000. Chesapeake Capital Corp IL increased its stake in shares of Bitfarms by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company’s stock worth $50,000 after buying an additional 4,800 shares during the last quarter. Finally, HBW Advisory Services LLC bought a new stake in shares of Bitfarms in the 3rd quarter worth about $63,000. 20.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BITF. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Bitfarms in a research report on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price objective on shares of Bitfarms in a research note on Thursday, October 3rd. Alliance Global Partners began coverage on Bitfarms in a research note on Wednesday. They issued a “buy” rating and a $6.00 target price for the company. Finally, Stifel Canada raised Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.05.

Bitfarms Trading Up 10.1 %

Shares of NASDAQ BITF opened at $2.29 on Friday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -6.36 and a beta of 3.59. Bitfarms Ltd. has a 12-month low of $1.52 and a 12-month high of $3.91. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $2.27.

Bitfarms 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.