CastleKnight Management LP Acquires 1,407,769 Shares of Bitfarms Ltd. $BITF

CastleKnight Management LP lifted its holdings in Bitfarms Ltd. (NASDAQ:BITF) by 20.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,293,169 shares of the company’s stock after buying an additional 1,407,769 shares during the quarter. Bitfarms comprises 0.4% of CastleKnight Management LP’s portfolio, making the stock its 29th biggest holding. CastleKnight Management LP owned about 1.38% of Bitfarms worth $19,489,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BITF. Situational Awareness LP bought a new position in shares of Bitfarms in the fourth quarter valued at about $16,208,000. Renaissance Technologies LLC bought a new position in shares of Bitfarms in the fourth quarter valued at about $16,178,000. Aurelius Capital Management LP bought a new position in shares of Bitfarms in the third quarter valued at about $18,999,000. Vident Advisory LLC raised its holdings in Bitfarms by 70.0% during the 2nd quarter. Vident Advisory LLC now owns 11,364,106 shares of the company’s stock worth $9,538,000 after purchasing an additional 4,677,425 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in Bitfarms by 763.8% during the 4th quarter. TD Asset Management Inc now owns 4,981,025 shares of the company’s stock valued at $11,737,000 after purchasing an additional 4,404,402 shares during the period. 20.59% of the stock is owned by institutional investors.

Bitfarms Price Performance

NASDAQ BITF opened at $5.96 on Thursday. The business has a 50 day simple moving average of $4.12 and a 200 day simple moving average of $3.03. 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 $3.59 billion, a price-to-earnings ratio of -25.91 and a beta of 3.77.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reduced their target price on shares of Bitfarms from $4.00 to $3.70 and set a “buy” rating on the stock 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Bitfarms has a consensus rating of “Moderate Buy” and a consensus target price of $4.14.

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.