J. Goldman & Co LP Makes New $881,000 Investment in Bitfarms Ltd. (NASDAQ:BITF)

J. Goldman & Co LP purchased a new position in shares of Bitfarms Ltd. (NASDAQ:BITF) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 591,218 shares of the company’s stock, valued at approximately $881,000.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in shares of Bitfarms by 106.6% in the 4th quarter. Van ECK Associates Corp now owns 12,553,729 shares of the company’s stock valued at $18,705,000 after acquiring an additional 6,477,985 shares during the last quarter. Barclays PLC bought a new stake in Bitfarms during the 3rd quarter worth $161,000. Charles Schwab Investment Management Inc. increased its holdings in Bitfarms by 121.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,501,953 shares of the company’s stock worth $3,728,000 after purchasing an additional 1,370,102 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Bitfarms in the fourth quarter valued at about $1,200,000. Finally, Baader Bank Aktiengesellschaft raised its position in Bitfarms by 245.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 700,300 shares of the company’s stock valued at $1,043,000 after purchasing an additional 497,789 shares during the last quarter. 20.59% of the stock is currently owned by institutional investors.

Bitfarms Trading Up 1.9%

NASDAQ BITF opened at $1.08 on Monday. The firm has a market capitalization of $582.34 million, a PE ratio of -3.00 and a beta of 3.69. The business’s 50-day moving average price is $0.96 and its two-hundred day moving average price is $1.47. 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 $0.67 and a 12 month high of $3.28.

Bitfarms (NASDAQ:BITF) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.07. Bitfarms had a negative return on equity of 22.17% and a negative net margin of 69.08%. The company had revenue of $54.40 million for the quarter, compared to analyst estimates of $54.22 million. On average, analysts expect that Bitfarms Ltd. will post -0.21 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Alliance Global Partners restated a “buy” rating on shares of Bitfarms in a report on Thursday, March 27th. Industrial Alliance Securities set a $3.25 target price on shares of Bitfarms in a research report on Thursday, March 27th. Finally, HC Wainwright reduced their target price on shares of Bitfarms from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Thursday, March 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.84.

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.