Azora Capital LP Sells 1,456,346 Shares of Bitfarms Ltd. $BITF

Azora Capital LP reduced its stake in Bitfarms Ltd. (NASDAQ:BITF) by 35.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,637,772 shares of the company’s stock after selling 1,456,346 shares during the quarter. Azora Capital LP’s holdings in Bitfarms were worth $6,199,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of BITF. Farther Finance Advisors LLC increased its holdings in Bitfarms by 144.7% in the 4th quarter. Farther Finance Advisors LLC now owns 11,010 shares of the company’s stock valued at $26,000 after acquiring an additional 6,510 shares during the last quarter. Equitable Holdings Inc. bought a new stake in Bitfarms in the 4th quarter valued at $27,000. State of Wisconsin Investment Board bought a new stake in Bitfarms in the 4th quarter valued at $32,000. US Bancorp DE bought a new stake in Bitfarms in the 3rd quarter valued at $34,000. Finally, Apollon Wealth Management LLC bought a new stake in Bitfarms in the 4th quarter valued at $35,000. 20.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reduced their price target on shares of Bitfarms from $4.00 to $3.70 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bitfarms has a consensus rating of “Moderate Buy” and an average price target of $4.14.

Bitfarms Price Performance

Bitfarms stock opened at $5.96 on Thursday. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -25.91 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. Bitfarms Ltd. has a 1 year low of $0.70 and a 1 year high of $6.60. The firm has a 50-day moving average of $4.12 and a two-hundred day moving average of $3.03.

Bitfarms Company 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.