Guided Capital Wealth Management LLC Acquires New Position in Bitfarms Ltd. (NASDAQ:BITF)

Guided Capital Wealth Management LLC acquired a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,000 shares of the company’s stock, valued at approximately $30,000.

A number of other large investors also recently modified their holdings of the company. HighTower Advisors LLC bought a new position in Bitfarms during the 3rd quarter worth approximately $25,000. Money Concepts Capital Corp bought a new position in Bitfarms during the 4th quarter worth approximately $30,000. Lifeworks Advisors LLC bought a new position in Bitfarms during the 3rd quarter worth approximately $37,000. Chesapeake Capital Corp IL grew its position in Bitfarms by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company’s stock worth $50,000 after acquiring an additional 4,800 shares during the last quarter. Finally, Impact Partnership Wealth LLC grew its position in Bitfarms by 26.1% during the 4th quarter. Impact Partnership Wealth LLC now owns 88,663 shares of the company’s stock worth $132,000 after acquiring an additional 18,378 shares during the last quarter. 20.59% of the stock is owned by hedge funds and other institutional investors.

Bitfarms Price Performance

Shares of BITF stock opened at $1.31 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70. Bitfarms Ltd. has a fifty-two week low of $1.31 and a fifty-two week high of $3.91. The firm has a market cap of $593.34 million, a P/E ratio of -3.64 and a beta of 3.64. The business’s 50 day moving average price is $1.68 and its 200-day moving average price is $1.96.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BITF. Alliance Global Partners began coverage on Bitfarms in a research report on Wednesday, December 4th. They set a “buy” rating and a $6.00 price target on the stock. Stifel Canada upgraded Bitfarms from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods began coverage on Bitfarms in a research report on Wednesday, January 8th. They set an “outperform” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $4.00 price target on shares of Bitfarms in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Bitfarms currently has an average rating of “Moderate Buy” and a consensus target price of $4.05.

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.