Thames Capital Management LLC Makes New Investment in Bitfarms Ltd. $BITF

Thames Capital Management LLC purchased a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,033,331 shares of the company’s stock, valued at approximately $19,834,000. Bitfarms makes up approximately 2.9% of Thames Capital Management LLC’s investment portfolio, making the stock its 8th biggest position.

Several other large investors also recently bought and sold shares of the business. Baader Bank Aktiengesellschaft lifted its stake in Bitfarms by 390.4% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 143,505 shares of the company’s stock valued at $121,000 after acquiring an additional 114,245 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Bitfarms during the second quarter valued at approximately $211,000. Public Employees Retirement System of Ohio boosted its holdings in Bitfarms by 41.5% in the second quarter. Public Employees Retirement System of Ohio now owns 177,532 shares of the company’s stock worth $147,000 after purchasing an additional 52,044 shares during the last quarter. TD Asset Management Inc boosted its holdings in Bitfarms by 34.4% in the second quarter. TD Asset Management Inc now owns 538,314 shares of the company’s stock worth $446,000 after purchasing an additional 137,782 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in Bitfarms in the 2nd quarter worth approximately $161,000. 20.59% of the stock is currently owned by institutional investors.

Bitfarms Trading Down 3.4%

Shares of NASDAQ:BITF opened at $2.84 on Friday. The stock has a 50 day moving average of $2.82 and a 200 day moving average of $2.49. The company has a market cap of $1.70 billion, a PE ratio of -12.35 and a beta of 3.81. Bitfarms Ltd. has a 12-month low of $0.67 and a 12-month high of $6.60. The company has a current ratio of 3.20, a quick ratio of 3.14 and a debt-to-equity ratio of 0.11.

Bitfarms (NASDAQ:BITF) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $69.25 million during the quarter, compared to analyst estimates of $84.66 million. Bitfarms had a negative net margin of 48.26% and a negative return on equity of 4.48%. As a group, equities research analysts expect that Bitfarms Ltd. will post -0.21 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bitfarms in a report on Wednesday, October 8th. B. Riley reissued a “buy” rating on shares of Bitfarms in a research report on Wednesday, October 22nd. Cantor Fitzgerald boosted their price target on Bitfarms from $2.20 to $5.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Macquarie reiterated an “outperform” rating on shares of Bitfarms in a research note on Monday, October 13th. Finally, Wall Street Zen downgraded shares of Bitfarms from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.25.

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.