BIT Capital GmbH Raises Holdings in Bitfarms Ltd. $BITF

BIT Capital GmbH raised its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF) by 23.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,236,912 shares of the company’s stock after purchasing an additional 801,068 shares during the period. BIT Capital GmbH’s holdings in Bitfarms were worth $9,957,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in Bitfarms by 144.7% during the 4th quarter. Farther Finance Advisors LLC now owns 11,010 shares of the company’s stock valued at $26,000 after purchasing an additional 6,510 shares during the last quarter. US Bancorp DE purchased a new stake in Bitfarms during the 3rd quarter valued at $34,000. Apollon Wealth Management LLC purchased a new stake in Bitfarms during the 4th quarter valued at $35,000. WINTON GROUP Ltd purchased a new stake in Bitfarms during the 2nd quarter valued at $43,000. Finally, Powell Investment Advisors LLC purchased a new stake in Bitfarms during the 4th quarter valued at $45,000. 20.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright cut their target price on Bitfarms from $4.00 to $3.70 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bitfarms presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.14.

Bitfarms Stock Performance

BITF stock opened at $5.93 on Friday. The company has a market cap of $3.57 billion, a P/E ratio of -25.78 and a beta of 3.77. Bitfarms Ltd. has a 1 year low of $0.70 and a 1 year high of $6.60. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.20 and a quick ratio of 3.14. The stock’s fifty day moving average price is $3.55 and its 200-day moving average price is $2.88.

Bitfarms 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.