Renaissance Technologies LLC Purchases 882,700 Shares of Bitfarms Ltd. $BITF

Renaissance Technologies LLC raised its position in shares of Bitfarms Ltd. (NASDAQ:BITF – Free Report) by 12.8% during the 1st quarter, Holdings Channel reports. The fund owned 7,767,131 shares of the company’s stock after purchasing an additional 882,700 shares during the period. Renaissance Technologies LLC’s holdings in Bitfarms were worth $15,146,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 raised its stake in Bitfarms by 54.0% during the second quarter. Creative Planning now owns 85,580 shares of the company’s stock valued at $72,000 after purchasing an additional 30,000 shares in the last quarter. Cetera Investment Advisers lifted its position 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 during the last quarter. Legal & General Group Plc lifted its position in Bitfarms by 4.1% during the second quarter. Legal & General Group Plc now owns 370,869 shares of the company’s stock valued at $309,000 after purchasing an additional 14,513 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Bitfarms by 40.4% in the 2nd quarter. Invesco Ltd. now owns 13,234,973 shares of the company’s stock worth $11,120,000 after buying an additional 3,806,810 shares in the last quarter. 20.59% of the stock is currently owned by institutional investors.

Bitfarms Stock Performance

Bitfarms stock opened at $4.05 on Friday. The company’s 50-day moving average price is $5.16 and its 200-day moving average price is $3.52. Bitfarms Ltd. has a twelve month low of $0.70 and a twelve month high of $6.60. The company has a quick ratio of 3.14, a current ratio of 3.20 and a debt-to-equity ratio of 0.11. The company has a market cap of $2.44 billion, a PE ratio of -17.61 and a beta of 3.77.

Bitfarms Profile

(Free Report)

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.

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