BIT Capital GmbH Has $9.69 Million Stock Position in Bitfarms Ltd. $BITF

Key Points

• BIT Capital GmbH trimmed its stake by 21% in Q3, selling 913,205 shares and retaining 3,435,844 shares of Bitfarms valued at approximately $9.69 million (about 0.61% of the company).
• Several institutions shifted positions — Invesco and Vident materially increased holdings and Thames Capital opened a new ~ $19.83 million position — with total institutional ownership at 20.59%.
• Analyst views are mixed (seven Buys, one Hold, one Sell) with an average target of $4.04, while BITF trades around $2.08 (1‑year range $0.67–$6.60) and shows a negative P/E and high beta.

BIT Capital GmbH trimmed its holdings in Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 21.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,435,844 shares of the company's stock after selling 913,205 shares during the quarter. BIT Capital GmbH owned 0.61% of Bitfarms worth $9,689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Invesco Ltd. raised its position in shares of Bitfarms by 40.4% during the second quarter. Invesco Ltd. now owns 13,234,973 shares of the company's stock valued at $11,120,000 after buying an additional 3,806,810 shares during the last quarter. Vident Advisory LLC increased its stake in Bitfarms by 70.0% during the second quarter. Vident Advisory LLC now owns 11,364,106 shares of the company's stock valued at $9,538,000 after acquiring an additional 4,677,425 shares during the period. Thames Capital Management LLC acquired a new position in Bitfarms in the 3rd quarter valued at approximately $19,834,000. Geode Capital Management LLC lifted its position in shares of Bitfarms by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,449,002 shares of the company's stock worth $2,860,000 after acquiring an additional 125,156 shares during the period. Finally, Voya Investment Management LLC acquired a new stake in shares of Bitfarms during the 3rd quarter worth approximately $2,349,000. Institutional investors own 20.59% of the company's stock.

Bitfarms Price Performance

Shares of BITF stock opened at $2.08 on Friday. Bitfarms Ltd. has a 1 year low of $0.67 and a 1 year 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's 50 day moving average is $2.50 and its 200-day moving average is $2.71. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -9.04 and a beta of 3.81.

Wall Street Analyst Weigh In

BITF has been the topic of a number of recent research reports. Cantor Fitzgerald lifted their price target on shares of Bitfarms from $2.20 to $5.00 and gave the stock an "overweight" rating in a research note on Friday, November 14th. HC Wainwright reiterated a "buy" rating and set a $4.00 target price (down from $5.50) on shares of Bitfarms in a research report on Friday, November 14th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $3.00 target price (up previously from $2.50) on shares of Bitfarms in a research note on Tuesday, January 27th. Wall Street Zen cut shares of Bitfarms from a "hold" rating to a "sell" rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Bitfarms in a research note on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $4.04.

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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