Paloma Partners Management Co Invests $528,000 in Bitfarms Ltd. (NASDAQ:BITF)

Paloma Partners Management Co purchased a new stake in Bitfarms Ltd. (NASDAQ:BITF) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 250,000 shares of the company’s stock, valued at approximately $528,000. Paloma Partners Management Co owned about 0.06% of Bitfarms as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in BITF. PEAK6 Investments LLC acquired a new stake in shares of Bitfarms in the 3rd quarter worth $211,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bitfarms by 22.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,562 shares of the company’s stock valued at $176,000 after purchasing an additional 15,167 shares during the period. Nwam LLC acquired a new stake in Bitfarms during the third quarter worth about $156,000. Charles Schwab Investment Management Inc. raised its stake in Bitfarms by 9.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,851 shares of the company’s stock worth $2,388,000 after purchasing an additional 99,919 shares during the period. Finally, Chesapeake Capital Corp IL boosted its holdings in Bitfarms by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company’s stock valued at $50,000 after purchasing an additional 4,800 shares during the last quarter. Hedge funds and other institutional investors own 20.59% of the company’s stock.

Bitfarms Stock Down 2.5 %

NASDAQ:BITF opened at $1.99 on Wednesday. Bitfarms Ltd. has a 52 week low of $1.52 and a 52 week high of $3.91. The stock’s fifty day moving average is $2.07 and its two-hundred day moving average is $2.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BITF shares. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price target on shares of Bitfarms in a report on Thursday, October 3rd. Stifel Canada raised Bitfarms from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of Bitfarms in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3.66.

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.