258,459 Shares in Bitfarms Ltd. $BITF Purchased by Himension Capital Singapore PTE. LTD.

Himension Capital Singapore PTE. LTD. acquired a new stake in Bitfarms Ltd. (NASDAQ:BITF) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 258,459 shares of the company’s stock, valued at approximately $504,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Bitfarms by 3.8% during the second quarter. Geode Capital Management LLC now owns 3,449,002 shares of the company’s stock valued at $2,860,000 after buying an additional 125,156 shares in the last quarter. Creative Planning grew its position in shares of Bitfarms by 54.0% in the 2nd quarter. Creative Planning now owns 85,580 shares of the company’s stock worth $72,000 after acquiring an additional 30,000 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Bitfarms by 1.4% in the 2nd quarter. Cetera Investment Advisers now owns 789,700 shares of the company’s stock valued at $664,000 after acquiring an additional 10,622 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Bitfarms by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 370,869 shares of the company’s stock valued at $309,000 after acquiring an additional 14,513 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Bitfarms by 40.4% during the 2nd quarter. Invesco Ltd. now owns 13,234,973 shares of the company’s stock valued at $11,120,000 after acquiring an additional 3,806,810 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 reduced their price objective on Bitfarms from $4.00 to $3.70 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Five research 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’s stock. According to MarketBeat.com, Bitfarms currently has an average rating of “Moderate Buy” and an average target price of $4.67.

Bitfarms Price Performance

Shares of NASDAQ:BITF opened at $4.34 on Wednesday. The company has a market cap of $2.62 billion, a PE ratio of -18.87 and a beta of 3.77. Bitfarms Ltd. has a fifty-two week low of $0.70 and a fifty-two week high of $6.60. 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 quick ratio of 3.14, a current ratio of 3.20 and a debt-to-equity ratio of 0.11.

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.