J. Goldman & Co LP Takes $881,000 Position in Bitfarms Ltd. (NASDAQ:BITF)

J. Goldman & Co LP bought a new stake in Bitfarms Ltd. (NASDAQ:BITF) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 591,218 shares of the company’s stock, valued at approximately $881,000. J. Goldman & Co LP owned 0.12% of Bitfarms as of its most recent filing with the SEC.

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

Bitfarms Stock Performance

NASDAQ BITF opened at $1.08 on Monday. The firm’s 50 day simple moving average is $0.96 and its 200 day simple moving average is $1.47. The firm has a market capitalization of $582.34 million, a price-to-earnings ratio of -3.00 and a beta of 3.69. 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 1 year low of $0.67 and a 1 year high of $3.28.

Bitfarms (NASDAQ:BITF) last released its earnings results on Thursday, March 27th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $54.40 million during the quarter, compared to analysts’ expectations of $54.22 million. As a group, research analysts expect that Bitfarms Ltd. will post -0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BITF has been the topic of a number of recent research reports. HC Wainwright lowered their price target on shares of Bitfarms from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Alliance Global Partners reiterated a “buy” rating on shares of Bitfarms in a research report on Thursday, March 27th. Finally, Industrial Alliance Securities set a $3.25 price target on Bitfarms in a research report on Thursday, March 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bitfarms has an average rating of “Moderate Buy” and a consensus 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.