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

Clarity Capital Partners LLC lessened its stake in shares of Bitfarms Ltd. (NASDAQ:BITF) by 18.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,000 shares of the company’s stock after selling 9,250 shares during the period. 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 hedge funds have also bought and sold shares of BITF. Gladstone Institutional Advisory LLC grew its holdings in shares of Bitfarms by 3.2% during the third quarter. Gladstone Institutional Advisory LLC now owns 159,550 shares of the company’s stock valued at $337,000 after buying an additional 5,000 shares during the last quarter. Van ECK Associates Corp lifted its position in Bitfarms by 17.7% during the 3rd quarter. Van ECK Associates Corp now owns 6,075,744 shares of the company’s stock worth $11,969,000 after acquiring an additional 911,952 shares during the period. Lifeworks Advisors LLC purchased a new stake in Bitfarms during the 3rd quarter valued at about $37,000. Chesapeake Capital Corp IL increased its holdings in shares of Bitfarms by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company’s stock valued at $50,000 after purchasing an additional 4,800 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Bitfarms by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,851 shares of the company’s stock valued at $2,388,000 after purchasing an additional 99,919 shares during the period. Institutional investors and hedge funds own 20.59% of the company’s stock.

Bitfarms Stock Up 3.8 %

BITF stock opened at $1.36 on Thursday. Bitfarms Ltd. has a one year low of $1.28 and a one year high of $3.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 3.70. The firm’s fifty day moving average is $1.66 and its 200 day moving average is $1.95. The firm has a market cap of $615.98 million, a PE ratio of -3.78 and a beta of 3.64.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BITF. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Bitfarms in a research report on Thursday, November 14th. Alliance Global Partners began coverage on shares of Bitfarms in a report on Wednesday, December 4th. They issued a “buy” rating and a $6.00 price objective on the stock. Keefe, Bruyette & Woods began coverage on shares of Bitfarms in a report on Wednesday, January 8th. They set an “outperform” rating for the company. Finally, Stifel Canada raised shares of Bitfarms from a “hold” rating to a “moderate buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Bitfarms has an average rating of “Moderate Buy” and an average target price of $4.05.

About Bitfarms

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.