Situational Awareness LP Has $38.76 Million Stock Position in Bitfarms Ltd. $BITF

Situational Awareness LP grew its position in shares of Bitfarms Ltd. (NASDAQ:BITF) by 188.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,875,840 shares of the company’s stock after buying an additional 12,978,740 shares during the quarter. Bitfarms makes up about 0.3% of Situational Awareness LP’s investment portfolio, making the stock its 11th biggest position. Situational Awareness LP owned 3.30% of Bitfarms worth $38,758,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Galaxy Digital Capital Management GP LLC grew its position in Bitfarms by 114.9% during the 1st quarter. Galaxy Digital Capital Management GP LLC now owns 3,072,979 shares of the company’s stock worth $5,992,000 after acquiring an additional 1,643,351 shares during the last quarter. Monarch Alternative Capital LP bought a new position in Bitfarms in the 1st quarter valued at $13,942,000. Pictet Asset Management Holding SA raised its position in Bitfarms by 206.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 224,917 shares of the company’s stock valued at $530,000 after purchasing an additional 151,544 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC acquired a new position in Bitfarms in the fourth quarter worth $588,000. Finally, Himension Capital Singapore PTE. LTD. acquired a new position in Bitfarms in the first quarter worth $504,000. Institutional investors own 20.59% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright decreased their target price on Bitfarms from $4.00 to $3.70 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.67.

Bitfarms Stock Down 4.9%

Shares of BITF opened at $4.05 on Wednesday. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of -17.61 and a beta of 3.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.14 and a current ratio of 3.20. The business’s fifty day moving average price is $5.21 and its two-hundred day moving average price is $3.51. Bitfarms Ltd. has a 52 week low of $0.70 and a 52 week high of $6.60.

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.