Creek Drive Management Group LLC bought a new stake in Bitfarms Ltd. (NASDAQ:BITF – Free Report) during the fourth quarter, HoldingsChannel reports. The firm bought 850,000 shares of the company’s stock, valued at approximately $1,998,000. Bitfarms comprises about 1.4% of Creek Drive Management Group LLC’s holdings, making the stock its 24th largest holding.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Compagnie Lombard Odier SCmA boosted its position in Bitfarms by 3.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 180,200 shares of the company’s stock valued at $425,000 after purchasing an additional 5,200 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Bitfarms by 144.7% during the 4th quarter. Farther Finance Advisors LLC now owns 11,010 shares of the company’s stock worth $26,000 after purchasing an additional 6,510 shares during the last quarter. LPL Financial LLC increased its position in shares of Bitfarms by 9.6% during the 4th quarter. LPL Financial LLC now owns 86,997 shares of the company’s stock worth $204,000 after purchasing an additional 7,641 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Bitfarms by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 287,566 shares of the company’s stock worth $811,000 after purchasing an additional 9,713 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Bitfarms by 1.4% during the 2nd quarter. Cetera Investment Advisers now owns 789,700 shares of the company’s stock worth $664,000 after purchasing an additional 10,622 shares in the last quarter. Institutional investors own 20.59% of the company’s stock.
Bitfarms Trading Up 5.4%
Shares of NASDAQ:BITF opened at $6.29 on Friday. Bitfarms Ltd. has a 52-week low of $0.70 and a 52-week high of $6.60. The company has a market capitalization of $3.79 billion, a P/E ratio of -27.35 and a beta of 3.77. The company has a 50-day simple moving average of $4.28 and a 200 day simple moving average of $3.07. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.14 and a current ratio of 3.20.
Analyst Upgrades and Downgrades
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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.
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