6,897,100 Shares in Bitfarms Ltd. $BITF Acquired by Situational Awareness LP

Situational Awareness LP purchased a new position in Bitfarms Ltd. (NASDAQ:BITF) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 6,897,100 shares of the company’s stock, valued at approximately $16,208,000. Bitfarms makes up 0.3% of Situational Awareness LP’s holdings, making the stock its 21st largest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Azora Capital LP acquired a new stake in shares of Bitfarms during the third quarter worth approximately $11,545,000. Aurelius Capital Management LP acquired a new stake in shares of Bitfarms during the third quarter worth approximately $18,999,000. Arete Wealth Advisors LLC acquired a new stake in shares of Bitfarms during the third quarter worth approximately $1,030,000. Cliftonlarsonallen Wealth Advisors LLC acquired a new stake in shares of Bitfarms during the fourth quarter worth approximately $588,000. Finally, Pictet Asset Management Holding SA grew its position in shares of Bitfarms by 206.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 224,917 shares of the company’s stock worth $530,000 after buying an additional 151,544 shares in the last quarter. Institutional investors and hedge funds own 20.59% of the company’s stock.

Analysts Set New Price Targets

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

Bitfarms Stock Performance

Shares of BITF opened at $5.93 on Friday. The business’s fifty day moving average price is $3.55 and its 200 day moving average price is $2.88. Bitfarms Ltd. has a 12-month low of $0.70 and a 12-month high of $6.60. The stock has a market capitalization of $3.57 billion, a PE ratio of -25.78 and a beta of 3.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.20 and a quick ratio of 3.14.

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.