BIT Capital GmbH Purchases 801,068 Shares of Bitfarms Ltd. $BITF

BIT Capital GmbH lifted its position in Bitfarms Ltd. (NASDAQ:BITF) by 23.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,236,912 shares of the company’s stock after acquiring an additional 801,068 shares during the period. BIT Capital GmbH owned 0.70% of Bitfarms worth $9,957,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of Bitfarms by 144.7% in the 4th quarter. Farther Finance Advisors LLC now owns 11,010 shares of the company’s stock worth $26,000 after acquiring an additional 6,510 shares in the last quarter. US Bancorp DE bought a new position in shares of Bitfarms in the 3rd quarter worth approximately $34,000. Apollon Wealth Management LLC bought a new position in Bitfarms during the 4th quarter valued at approximately $35,000. Powell Investment Advisors LLC bought a new position in Bitfarms during the 4th quarter valued at approximately $45,000. Finally, Swiss Life Asset Management Ltd bought a new position in Bitfarms during the 3rd quarter valued at approximately $56,000. Institutional investors own 20.59% of the company’s stock.

Bitfarms Stock Down 3.6%

BITF stock opened at $5.93 on Friday. Bitfarms Ltd. has a twelve month low of $0.70 and a twelve month high of $6.60. The company has a quick ratio of 3.14, a current ratio of 3.20 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.57 billion, a PE ratio of -25.78 and a beta of 3.77. The business has a 50 day moving average of $3.55 and a 200 day moving average of $2.88.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reduced their price objective 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 investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.14.

About Bitfarms

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.