Havemeyer Place LP purchased a new position in Bitfarms Ltd. (NASDAQ:BITF – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 571,298 shares of the company’s stock, valued at approximately $1,343,000.
Several other large investors have also recently modified their holdings of the stock. Situational Awareness LP purchased a new position in shares of Bitfarms in the 4th quarter worth about $16,208,000. BIT Capital GmbH raised its position in shares of Bitfarms by 23.3% in the 4th quarter. BIT Capital GmbH now owns 4,236,912 shares of the company’s stock worth $9,957,000 after purchasing an additional 801,068 shares during the last quarter. Cibc World Market Inc. purchased a new position in shares of Bitfarms in the 4th quarter worth about $53,000. TD Asset Management Inc raised its position in shares of Bitfarms by 763.8% in the 4th quarter. TD Asset Management Inc now owns 4,981,025 shares of the company’s stock worth $11,737,000 after purchasing an additional 4,404,402 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Bitfarms in the 4th quarter worth about $1,128,000. Hedge funds and other institutional investors own 20.59% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright lowered their price target on Bitfarms from $4.00 to $3.70 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.14.
Bitfarms Price Performance
Shares of NASDAQ:BITF opened at $5.13 on Monday. Bitfarms Ltd. has a fifty-two week low of $0.70 and a fifty-two week high of $6.60. The business has a 50-day simple moving average of $3.55 and a two-hundred day simple moving average of $2.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.14 and a current ratio of 3.20. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -22.30 and a beta of 3.77.
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.
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