CloudAlpha Capital Management Limited Hong Kong Takes Position in Bitfarms Ltd. $BITF

CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Bitfarms Ltd. (NASDAQ:BITF) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,631,964 shares of the company’s stock, valued at approximately $3,835,000.

A number of other large investors have also added to or reduced their stakes in BITF. Azora Capital LP bought a new stake in shares of Bitfarms during the 3rd quarter valued at $11,545,000. Aurelius Capital Management LP acquired a new stake in Bitfarms during the third quarter worth about $18,999,000. Arete Wealth Advisors LLC bought a new position in Bitfarms in the 3rd quarter valued at about $1,030,000. Cliftonlarsonallen Wealth Advisors LLC acquired a new position in shares of Bitfarms in the 4th quarter valued at approximately $588,000. Finally, Alight Capital Management LP bought a new stake in shares of Bitfarms during the 3rd quarter worth approximately $1,128,000. Institutional investors and hedge funds own 20.59% of the company’s stock.

Bitfarms Price Performance

BITF stock opened at $4.18 on Wednesday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -18.17 and a beta of 3.77. 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 50 day simple moving average of $2.75 and a 200 day simple moving average of $2.71. Bitfarms Ltd. has a 1 year low of $0.70 and a 1 year high of $6.60.

Analyst Ratings Changes

Several brokerages have commented on BITF. Keefe, Bruyette & Woods restated a “market perform” rating and set a $3.00 price objective (up from $2.50) on shares of Bitfarms in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bitfarms in a research note on Wednesday, January 21st. Finally, HC Wainwright lowered their price target on Bitfarms from $4.00 to $3.70 and set a “buy” rating for the company in a report on Tuesday, March 31st. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average 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.