250,200 Shares in Bitfarms Ltd. $BITF Bought by Cliftonlarsonallen Wealth Advisors LLC

Cliftonlarsonallen Wealth Advisors LLC purchased a new stake in Bitfarms Ltd. (NASDAQ:BITF) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 250,200 shares of the company’s stock, valued at approximately $588,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE acquired a new stake in shares of Bitfarms in the 3rd quarter valued at about $34,000. WINTON GROUP Ltd acquired a new stake in shares of Bitfarms in the 2nd quarter valued at about $43,000. Savvy Advisors Inc. acquired a new stake in shares of Bitfarms in the 4th quarter valued at about $49,000. Baker Avenue Asset Management LP acquired a new stake in shares of Bitfarms in the 2nd quarter valued at about $50,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Bitfarms in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 20.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BITF. HC Wainwright dropped their price target on Bitfarms from $4.00 to $3.70 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $3.00 price target (up from $2.50) on shares of Bitfarms in a research note on Tuesday, January 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bitfarms in a research report on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $4.14.

Bitfarms Price Performance

NASDAQ:BITF opened at $2.11 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.14 and a current ratio of 3.20. The stock’s 50-day simple moving average is $2.14 and its 200 day simple moving average is $2.84. The company has a market cap of $1.27 billion, a P/E ratio of -9.17 and a beta of 3.77. Bitfarms Ltd. has a 52-week low of $0.67 and a 52-week high of $6.60.

Bitfarms Company Profile

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.