Shariaportfolio Inc. Decreases Stock Holdings in Bitfarms Ltd. (NASDAQ:BITF)

Shariaportfolio Inc. decreased its holdings in Bitfarms Ltd. (NASDAQ:BITF) by 42.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,200 shares of the company’s stock after selling 15,017 shares during the quarter. Bitfarms accounts for approximately 0.0% of Shariaportfolio Inc.’s holdings, making the stock its 26th biggest position. Shariaportfolio Inc.’s holdings in Bitfarms were worth $30,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. HighTower Advisors LLC purchased a new position in Bitfarms in the 3rd quarter worth about $25,000. Lifeworks Advisors LLC purchased a new stake in shares of Bitfarms during the 3rd quarter valued at about $37,000. Money Concepts Capital Corp purchased a new stake in shares of Bitfarms during the 4th quarter valued at about $30,000. Guided Capital Wealth Management LLC purchased a new stake in shares of Bitfarms during the 4th quarter valued at about $30,000. Finally, Chesapeake Capital Corp IL increased its position in shares of Bitfarms by 27.9% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 20.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

Bitfarms Trading Down 5.0 %

Shares of NASDAQ:BITF opened at $1.32 on Monday. The stock has a 50 day moving average of $1.57 and a 200 day moving average of $1.91. The company has a market cap of $632.72 million, a PE ratio of -3.67 and a beta of 3.64. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04. Bitfarms Ltd. has a 12-month low of $1.28 and a 12-month high of $3.91.

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.