Baader Bank Aktiengesellschaft Lowers Position in Bitfarms Ltd. $BITF

Baader Bank Aktiengesellschaft trimmed its stake in shares of Bitfarms Ltd. (NASDAQ:BITF) by 35.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 410,446 shares of the company’s stock after selling 223,527 shares during the period. Baader Bank Aktiengesellschaft owned 0.07% of Bitfarms worth $791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BITF. Bank of New York Mellon Corp increased its holdings in shares of Bitfarms by 39.5% in the first quarter. Bank of New York Mellon Corp now owns 14,659 shares of the company’s stock worth $29,000 after purchasing an additional 4,154 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its stake in Bitfarms by 3.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 180,200 shares of the company’s stock valued at $425,000 after buying an additional 5,200 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Bitfarms by 144.7% during the 4th quarter. Farther Finance Advisors LLC now owns 11,010 shares of the company’s stock valued at $26,000 after buying an additional 6,510 shares in the last quarter. LPL Financial LLC increased its stake in Bitfarms by 9.6% in the 4th quarter. LPL Financial LLC now owns 86,997 shares of the company’s stock worth $204,000 after acquiring an additional 7,641 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Bitfarms by 1.4% in the 2nd quarter. Cetera Investment Advisers now owns 789,700 shares of the company’s stock worth $664,000 after acquiring an additional 10,622 shares during the last quarter. 20.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lowered their target price on Bitfarms from $4.00 to $3.70 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Bitfarms presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.67.

Bitfarms Price Performance

NASDAQ:BITF opened at $4.34 on Wednesday. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of -18.87 and a beta of 3.77. Bitfarms Ltd. has a 1 year low of $0.70 and a 1 year high of $6.60. The business has a 50 day simple moving average of $5.18 and a 200-day simple moving average of $3.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.20 and a quick ratio of 3.14.

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.