CastleKnight Management LP increased its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF – Free Report) by 20.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,293,169 shares of the company’s stock after purchasing an additional 1,407,769 shares during the quarter. Bitfarms makes up 0.4% of CastleKnight Management LP’s holdings, making the stock its 29th largest holding. CastleKnight Management LP’s holdings in Bitfarms were worth $19,489,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of BITF. Farther Finance Advisors LLC increased its stake in Bitfarms by 144.7% during the 4th quarter. Farther Finance Advisors LLC now owns 11,010 shares of the company’s stock worth $26,000 after purchasing an additional 6,510 shares in the last quarter. Equitable Holdings Inc. bought a new stake in Bitfarms during the 4th quarter worth approximately $27,000. State of Wisconsin Investment Board bought a new stake in Bitfarms during the 4th quarter worth approximately $32,000. US Bancorp DE bought a new stake in Bitfarms during the 3rd quarter worth approximately $34,000. Finally, Apollon Wealth Management LLC bought a new stake in Bitfarms during the 4th quarter worth approximately $35,000. 20.59% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
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 note on Tuesday, March 31st. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.14.
Bitfarms Price Performance
Shares of BITF opened at $5.96 on Thursday. The stock has a market capitalization of $3.59 billion, a P/E ratio of -25.91 and a beta of 3.77. Bitfarms Ltd. has a twelve month low of $0.70 and a twelve month high of $6.60. The company has a 50 day moving average of $4.12 and a 200-day moving average of $3.03. The company has a quick ratio of 3.14, a current ratio of 3.20 and a debt-to-equity ratio of 0.11.
Bitfarms Company 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.
Further Reading
- Five stocks we like better than Bitfarms
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Want to see what other hedge funds are holding BITF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bitfarms Ltd. (NASDAQ:BITF – Free Report).
Receive News & Ratings for Bitfarms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bitfarms and related companies with MarketBeat.com's FREE daily email newsletter.
