Clarity Capital Partners LLC Decreases Stock Holdings in Bitfarms Ltd. (NASDAQ:BITF)

Clarity Capital Partners LLC lessened its stake in Bitfarms Ltd. (NASDAQ:BITF) by 18.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,000 shares of the company’s stock after selling 9,250 shares during the quarter. Clarity Capital Partners LLC’s holdings in Bitfarms were worth $61,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Bitfarms by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,879,454 shares of the company’s stock valued at $3,965,000 after purchasing an additional 81,760 shares during the period. Barclays PLC acquired a new stake in Bitfarms in the 3rd quarter worth about $161,000. State Street Corp increased its stake in Bitfarms by 1.3% during the 3rd quarter. State Street Corp now owns 4,917,729 shares of the company’s stock worth $10,376,000 after buying an additional 63,916 shares in the last quarter. Baader Bank Aktiengesellschaft raised its holdings in shares of Bitfarms by 245.8% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 700,300 shares of the company’s stock valued at $1,043,000 after acquiring an additional 497,789 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Bitfarms by 17.7% during the third quarter. Van ECK Associates Corp now owns 6,075,744 shares of the company’s stock valued at $11,969,000 after acquiring an additional 911,952 shares during the last quarter. 20.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BITF has been the subject of several research reports. Keefe, Bruyette & Woods assumed coverage on Bitfarms in a research report on Wednesday, January 8th. They set an “outperform” rating for the company. Alliance Global Partners initiated coverage on shares of Bitfarms in a report on Wednesday, December 4th. They set a “buy” rating and a $6.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Bitfarms in a research note on Thursday, November 14th. Finally, Stifel Canada raised shares of Bitfarms from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Bitfarms has a consensus rating of “Moderate Buy” and a consensus price target of $4.05.

Bitfarms Price Performance

Bitfarms stock opened at $1.36 on Thursday. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $1.66 and a 200 day moving average price of $1.95. Bitfarms Ltd. has a 12-month low of $1.28 and a 12-month high of $3.91. The stock has a market cap of $615.98 million, a P/E ratio of -3.78 and a beta of 3.64.

Bitfarms Profile

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.