Traders Buy Large Volume of Call Options on Bitfarms (NASDAQ:BITF)

Bitfarms Ltd. (NASDAQ:BITFGet Free Report) saw unusually large options trading activity on Friday. Stock traders purchased 21,662 call options on the company. This represents an increase of 77% compared to the average volume of 12,234 call options.

Bitfarms Trading Up 7.9 %

Shares of NASDAQ:BITF opened at $2.72 on Friday. Bitfarms has a 52 week low of $0.68 and a 52 week high of $3.56. The company’s 50 day moving average is $2.55 and its two-hundred day moving average is $1.70. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.05. The company has a market cap of $908.90 million, a PE ratio of -10.46 and a beta of 3.71.

Institutional Investors Weigh In On Bitfarms

A number of large investors have recently modified their holdings of the company. Gladstone Institutional Advisory LLC increased its position in shares of Bitfarms by 45.9% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 119,634 shares of the company’s stock valued at $348,000 after purchasing an additional 37,654 shares during the last quarter. Independent Advisor Alliance grew its position in shares of Bitfarms by 116.3% in the 4th quarter. Independent Advisor Alliance now owns 93,000 shares of the company’s stock valued at $271,000 after buying an additional 50,000 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of Bitfarms in the 4th quarter valued at $804,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Bitfarms by 39.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,188 shares of the company’s stock valued at $70,000 after buying an additional 6,837 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Bitfarms in the 4th quarter valued at $29,000. 15.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BITF has been the topic of a number of research reports. HC Wainwright increased their target price on shares of Bitfarms from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. B. Riley reiterated a “buy” rating and set a $4.00 target price on shares of Bitfarms in a report on Thursday, December 14th. Finally, Cantor Fitzgerald increased their target price on shares of Bitfarms from $2.00 to $3.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Bitfarms presently has a consensus rating of “Buy” and a consensus target price of $4.00.

View Our Latest Analysis on BITF

Bitfarms Company Profile

(Get 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.

See Also

Receive News & Ratings for Bitfarms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bitfarms and related companies with MarketBeat.com's FREE daily email newsletter.