Mirae Asset Global Investments Co. Ltd. Purchases 194,061 Shares of Bitfarms Ltd. (NASDAQ:BITF)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bitfarms Ltd. (NASDAQ:BITFGet Rating) by 9.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,335,302 shares of the company’s stock after acquiring an additional 194,061 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 1.17% of Bitfarms worth $8,806,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vontobel Holding Ltd. bought a new stake in shares of Bitfarms during the first quarter worth approximately $51,000. Advisor Group Holdings Inc. raised its position in shares of Bitfarms by 158.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 14,696 shares of the company’s stock valued at $74,000 after buying an additional 9,010 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Bitfarms in the first quarter valued at approximately $57,000. Mutual Advisors LLC acquired a new stake in shares of Bitfarms in the first quarter valued at approximately $88,000. Finally, Valeo Financial Advisors LLC raised its position in shares of Bitfarms by 70.9% in the first quarter. Valeo Financial Advisors LLC now owns 24,100 shares of the company’s stock valued at $90,000 after buying an additional 10,000 shares in the last quarter. Institutional investors own 14.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright dropped their price target on shares of Bitfarms from $7.00 to $5.00 in a research report on Tuesday, August 16th.

Bitfarms Stock Down 7.3 %

NASDAQ BITF opened at $1.15 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.12. Bitfarms Ltd. has a 1-year low of $1.04 and a 1-year high of $9.36. The company has a 50 day moving average of $1.43 and a 200-day moving average of $2.11. The company has a market cap of $229.08 million, a price-to-earnings ratio of -2.30 and a beta of 3.07.

Bitfarms (NASDAQ:BITFGet Rating) last announced its quarterly earnings data on Monday, August 15th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.10). Bitfarms had a negative net margin of 55.75% and a positive return on equity of 3.98%. The firm had revenue of $41.82 million for the quarter, compared to analyst estimates of $48.30 million. On average, equities research analysts expect that Bitfarms Ltd. will post 0.35 earnings per share for the current fiscal year.

About Bitfarms

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Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in North America. 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.

See Also

Institutional Ownership by Quarter for Bitfarms (NASDAQ:BITF)

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