Bitfarms Ltd. $BITF Shares Acquired by Alight Capital Management LP

Alight Capital Management LP boosted its stake in shares of Bitfarms Ltd. (NASDAQ:BITF) by 100.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 800,000 shares of the company’s stock after purchasing an additional 400,000 shares during the quarter. Alight Capital Management LP owned approximately 0.13% of Bitfarms worth $1,880,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in shares of Bitfarms by 144.7% during the fourth 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 period. Equitable Holdings Inc. purchased a new position in Bitfarms in the fourth quarter valued at about $27,000. US Bancorp DE purchased a new position in Bitfarms in the third quarter valued at about $34,000. State of Wisconsin Investment Board purchased a new position in Bitfarms in the fourth quarter valued at about $32,000. Finally, Apollon Wealth Management LLC bought a new stake in shares of Bitfarms during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 20.59% of the company’s stock.

Analyst Ratings Changes

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

Bitfarms Stock Up 5.3%

BITF stock opened at $5.96 on Thursday. 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 has a market capitalization of $3.59 billion, a P/E ratio of -25.91 and a beta of 3.77. The business has a 50-day moving average of $4.12 and a 200-day moving average of $3.03. Bitfarms Ltd. has a fifty-two week low of $0.70 and a fifty-two week high of $6.60.

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.