Lifeworks Advisors LLC Invests $37,000 in Bitfarms Ltd. (NASDAQ:BITF)

Lifeworks Advisors LLC bought a new stake in Bitfarms Ltd. (NASDAQ:BITF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,325 shares of the company’s stock, valued at approximately $37,000.

A number of other institutional investors have also bought and sold shares of BITF. Swiss National Bank bought a new position in shares of Bitfarms in the 1st quarter worth about $1,426,000. Shell Asset Management Co. bought a new stake in Bitfarms in the first quarter worth approximately $43,000. Vident Advisory LLC lifted its stake in Bitfarms by 51.4% in the first quarter. Vident Advisory LLC now owns 2,606,970 shares of the company’s stock valued at $5,812,000 after buying an additional 885,217 shares during the period. Quadrature Capital Ltd acquired a new position in Bitfarms in the first quarter valued at approximately $1,640,000. Finally, Bayesian Capital Management LP boosted its holdings in shares of Bitfarms by 116.3% during the 1st quarter. Bayesian Capital Management LP now owns 63,600 shares of the company’s stock worth $142,000 after buying an additional 34,200 shares in the last quarter. Institutional investors own 20.59% of the company’s stock.

Bitfarms Price Performance

Shares of NASDAQ:BITF opened at $2.25 on Friday. The stock’s 50 day moving average is $2.04 and its 200-day moving average is $2.23. Bitfarms Ltd. has a twelve month low of $1.01 and a twelve month high of $3.91. The company has a quick ratio of 5.09, a current ratio of 5.11 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.25 and a beta of 3.64.

Wall Street Analysts Forecast Growth

BITF has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $4.00 price objective on shares of Bitfarms in a research note on Thursday. 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Bitfarms presently has an average rating of “Moderate Buy” and a consensus price target of $3.66.

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.