Situational Awareness LP Acquires Shares of 6,897,100 Bitfarms Ltd. $BITF

Situational Awareness LP acquired a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,897,100 shares of the company’s stock, valued at approximately $16,208,000. Bitfarms comprises 0.3% of Situational Awareness LP’s portfolio, making the stock its 21st largest holding. Situational Awareness LP owned approximately 1.15% of Bitfarms as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of BITF. Farther Finance Advisors LLC increased its position in Bitfarms by 144.7% during the fourth quarter. Farther Finance Advisors LLC now owns 11,010 shares of the company’s stock valued at $26,000 after acquiring an additional 6,510 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Bitfarms during the third quarter valued at $34,000. Apollon Wealth Management LLC purchased a new stake in shares of Bitfarms during the fourth quarter valued at $35,000. WINTON GROUP Ltd purchased a new stake in shares of Bitfarms during the second quarter valued at $43,000. Finally, Powell Investment Advisors LLC purchased a new stake in shares of Bitfarms during the fourth quarter valued at $45,000. Institutional investors own 20.59% of the company’s stock.

Bitfarms Stock Down 3.6%

Shares of BITF opened at $5.93 on Friday. The firm has a market capitalization of $3.57 billion, a P/E ratio of -25.78 and a beta of 3.77. Bitfarms Ltd. has a 12-month low of $0.70 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. The firm has a fifty day moving average price of $3.55 and a 200-day moving average price of $2.88.

Analyst Upgrades and Downgrades

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

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.