Azora Capital LP lessened its holdings in shares of Bitfarms Ltd. (NASDAQ:BITF – Free Report) by 35.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,637,772 shares of the company’s stock after selling 1,456,346 shares during the quarter. Azora Capital LP owned approximately 0.44% of Bitfarms worth $6,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also modified their holdings of the business. Compagnie Lombard Odier SCmA boosted its stake in shares of Bitfarms by 3.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 180,200 shares of the company’s stock worth $425,000 after acquiring an additional 5,200 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Bitfarms by 144.7% during the 4th quarter. Farther Finance Advisors LLC now owns 11,010 shares of the company’s stock worth $26,000 after acquiring an additional 6,510 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Bitfarms by 9.6% during the 4th quarter. LPL Financial LLC now owns 86,997 shares of the company’s stock worth $204,000 after acquiring an additional 7,641 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Bitfarms by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 287,566 shares of the company’s stock valued at $811,000 after purchasing an additional 9,713 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Bitfarms by 1.4% during the 2nd 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 period. Hedge funds and other institutional investors own 20.59% of the company’s stock.
Analyst Ratings Changes
Separately, HC Wainwright decreased their price objective on shares of Bitfarms from $4.00 to $3.70 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Bitfarms has an average rating of “Moderate Buy” and an average price target of $4.14.
Bitfarms Stock Up 5.3%
Shares of BITF stock opened at $5.96 on Thursday. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -25.91 and a beta of 3.77. Bitfarms Ltd. has a one year low of $0.70 and a one year high of $6.60. The company’s fifty day moving average price is $4.12 and its 200-day moving average price is $3.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.20 and a quick ratio of 3.14.
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.
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