Chesapeake Capital Corp IL Invests $118,000 in Bitfarms Ltd. (NASDAQ:BITF)

Chesapeake Capital Corp IL purchased a new stake in shares of Bitfarms Ltd. (NASDAQ:BITFFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 40,529 shares of the company’s stock, valued at approximately $118,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BITF. Capital Performance Advisors LLP purchased a new position in shares of Bitfarms during the fourth quarter valued at approximately $29,000. Pasadena Private Wealth LLC bought a new stake in shares of Bitfarms during the fourth quarter worth $34,000. Sloy Dahl & Holst LLC purchased a new stake in shares of Bitfarms during the fourth quarter valued at $44,000. DMC Group LLC purchased a new stake in shares of Bitfarms during the fourth quarter valued at $47,000. Finally, Evanson Asset Management LLC bought a new position in shares of Bitfarms in the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 20.59% of the company’s stock.

Wall Street Analyst Weigh In

BITF has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $4.00 price objective on shares of Bitfarms in a research report on Thursday, March 28th. Northland Securities initiated coverage on Bitfarms in a report on Thursday, April 25th. They issued an “outperform” rating and a $4.00 price target for the company. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Bitfarms in a report on Tuesday, March 26th. Finally, B. Riley cut their price target on Bitfarms from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $4.00.

Read Our Latest Stock Report on BITF

Bitfarms Trading Up 3.1 %

Shares of NASDAQ:BITF traded up $0.06 during trading on Monday, reaching $2.02. The stock had a trading volume of 23,814,400 shares, compared to its average volume of 23,091,344. The firm’s 50-day simple moving average is $1.98 and its 200 day simple moving average is $2.26. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.04. Bitfarms Ltd. has a one year low of $0.92 and a one year high of $3.91.

Bitfarms (NASDAQ:BITFGet Free Report) last announced its earnings results on Thursday, March 7th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $46.24 million during the quarter, compared to the consensus estimate of $39.68 million. Bitfarms had a negative net margin of 64.06% and a negative return on equity of 19.24%. During the same period last year, the firm earned ($0.07) earnings per share. As a group, equities research analysts expect that Bitfarms Ltd. will post -0.14 EPS for the current year.

Bitfarms Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bitfarms (NASDAQ:BITF)

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