Havemeyer Place LP Invests $1.34 Million in Bitfarms Ltd. $BITF

Havemeyer Place LP bought a new position in Bitfarms Ltd. (NASDAQ:BITF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 571,298 shares of the company’s stock, valued at approximately $1,343,000. Havemeyer Place LP owned about 0.09% of Bitfarms as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Azora Capital LP bought a new stake in Bitfarms in the third quarter valued at $11,545,000. Aurelius Capital Management LP bought a new stake in Bitfarms in the third quarter valued at $18,999,000. Arete Wealth Advisors LLC bought a new stake in Bitfarms in the third quarter valued at $1,030,000. Cliftonlarsonallen Wealth Advisors LLC bought a new stake in Bitfarms in the fourth quarter valued at $588,000. Finally, Pictet Asset Management Holding SA boosted its holdings in Bitfarms by 206.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 224,917 shares of the company’s stock valued at $530,000 after acquiring an additional 151,544 shares in the last quarter. Institutional investors own 20.59% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright dropped their target price on shares of Bitfarms from $4.00 to $3.70 and set a “buy” rating on the stock in a report 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.14.

Bitfarms Stock Performance

Shares of BITF stock opened at $5.13 on Monday. Bitfarms Ltd. has a 12 month low of $0.70 and a 12 month high of $6.60. The stock has a market cap of $3.09 billion, a PE ratio of -22.30 and a beta of 3.77. The company has a current ratio of 3.20, a quick ratio of 3.14 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average price is $3.55 and its 200-day moving average price is $2.88.

Bitfarms 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.