Himension Capital Singapore PTE. LTD. Takes Position in Bitfarms Ltd. $BITF

Himension Capital Singapore PTE. LTD. bought a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) 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.

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

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.