Alight Capital Management LP Purchases New Position in Bitfarms Ltd. $BITF

Alight Capital Management LP purchased a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 400,000 shares of the company’s stock, valued at approximately $1,128,000. Alight Capital Management LP owned approximately 0.07% of Bitfarms at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Bitfarms by 108.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 277,853 shares of the company’s stock valued at $233,000 after acquiring an additional 144,593 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Bitfarms by 25.8% in the second quarter. SBI Securities Co. Ltd. now owns 186,814 shares of the company’s stock valued at $157,000 after purchasing an additional 38,358 shares in the last quarter. Geode Capital Management LLC increased its position in Bitfarms by 3.8% in the second quarter. Geode Capital Management LLC now owns 3,449,002 shares of the company’s stock worth $2,860,000 after purchasing an additional 125,156 shares during the last quarter. Creative Planning increased its position in Bitfarms by 54.0% in the second quarter. Creative Planning now owns 85,580 shares of the company’s stock worth $72,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Bitfarms by 1.4% during the second quarter. Cetera Investment Advisers now owns 789,700 shares of the company’s stock valued at $664,000 after purchasing an additional 10,622 shares in the last quarter. Institutional investors own 20.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BITF shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitfarms in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Bitfarms from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $3.00 target price (up from $2.50) on shares of Bitfarms in a research report on Tuesday, January 27th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.04.

Bitfarms Price Performance

Shares of BITF stock opened at $2.24 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.20 and a quick ratio of 3.14. The company has a market capitalization of $1.35 billion, a P/E ratio of -9.74 and a beta of 3.81. The company’s 50-day simple moving average is $2.40 and its two-hundred day simple moving average is $2.82. Bitfarms Ltd. has a one year low of $0.67 and a one year high of $6.60.

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.