Situational Awareness LP Acquires 12,978,740 Shares of Bitfarms Ltd. $BITF

Situational Awareness LP lifted its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF) by 188.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,875,840 shares of the company’s stock after buying an additional 12,978,740 shares during the quarter. Bitfarms comprises approximately 0.3% of Situational Awareness LP’s investment portfolio, making the stock its 11th biggest holding. Situational Awareness LP’s holdings in Bitfarms were worth $38,758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Laidlaw Wealth Management LLC acquired a new position in Bitfarms in the first quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its stake 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 acquiring an additional 6,510 shares during the last quarter. Equitable Holdings Inc. acquired a new stake in Bitfarms during the 4th quarter worth $27,000. Bank of New York Mellon Corp grew its holdings in Bitfarms by 39.5% during the 1st quarter. Bank of New York Mellon Corp now owns 14,659 shares of the company’s stock worth $29,000 after acquiring an additional 4,154 shares during the period. Finally, State of Wisconsin Investment Board bought a new stake in shares of Bitfarms during the 4th quarter valued at $32,000. 20.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright dropped their price objective 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Bitfarms currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.67.

Bitfarms Stock Down 4.9%

Shares of NASDAQ BITF opened at $4.05 on Wednesday. Bitfarms Ltd. has a 52-week low of $0.70 and a 52-week high of $6.60. 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 stock has a market cap of $2.44 billion, a P/E ratio of -17.61 and a beta of 3.77. The firm has a 50 day moving average price of $5.21 and a 200 day moving average price of $3.51.

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.