Himension Capital Singapore PTE. LTD. bought a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 258,459 shares of the company's stock, valued at approximately $504,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in Bitfarms by 144.7% in the fourth quarter. Farther Finance Advisors LLC now owns 11,010 shares of the company's stock valued at $26,000 after purchasing an additional 6,510 shares during the period. Equitable Holdings Inc. acquired a new position in shares of Bitfarms during the fourth quarter worth about $27,000. US Bancorp DE purchased a new stake in shares of Bitfarms in the third quarter worth about $34,000. Laidlaw Wealth Management LLC purchased a new stake in shares of Bitfarms in the first quarter worth about $25,000. Finally, State of Wisconsin Investment Board acquired a new stake in shares of Bitfarms in the fourth quarter valued at about $32,000. 20.59% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, HC Wainwright decreased their price target on Bitfarms from $4.00 to $3.70 and set a "buy" rating for the company in a report on Tuesday, March 31st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $4.67.
Read Our Latest Stock Analysis on BITF
Bitfarms Stock Up 9.9%
BITF stock opened at $4.34 on Wednesday. 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 has a 50 day simple moving average of $5.18 and a 200-day simple moving average of $3.45. The company has a market capitalization of $2.62 billion, a P/E ratio of -18.87 and a beta of 3.77. Bitfarms Ltd. has a twelve month low of $0.70 and a twelve month high of $6.60.
Bitfarms Profile
(
Free Report)
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.
See Also
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