J. Goldman & Co LP Purchases Shares of 591,218 Bitfarms Ltd. (NASDAQ:BITF)

J. Goldman & Co LP acquired a new position in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 591,218 shares of the company's stock, valued at approximately $881,000. J. Goldman & Co LP owned about 0.12% of Bitfarms as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Bitfarms during the 4th quarter worth $614,000. Cresset Asset Management LLC grew its position in Bitfarms by 54.6% during the 4th quarter. Cresset Asset Management LLC now owns 27,735 shares of the company's stock worth $41,000 after purchasing an additional 9,795 shares during the last quarter. Cetera Investment Advisers grew its position in Bitfarms by 31.9% during the 4th quarter. Cetera Investment Advisers now owns 963,793 shares of the company's stock worth $1,436,000 after purchasing an additional 232,821 shares during the last quarter. Brevan Howard Capital Management LP grew its position in Bitfarms by 25.0% during the 4th quarter. Brevan Howard Capital Management LP now owns 500,000 shares of the company's stock worth $745,000 after purchasing an additional 100,000 shares during the last quarter. Finally, One68 Global Capital LLC purchased a new stake in shares of Bitfarms in the fourth quarter valued at about $283,000. 20.59% of the stock is owned by hedge funds and other institutional investors.

Bitfarms Price Performance

Shares of NASDAQ BITF traded down $0.02 during midday trading on Thursday, hitting $1.07. The company had a trading volume of 15,236,323 shares, compared to its average volume of 28,467,611. The company has a quick ratio of 3.68, a current ratio of 3.70 and a debt-to-equity ratio of 0.04. Bitfarms Ltd. has a twelve month low of $0.67 and a twelve month high of $3.28. The business has a 50-day simple moving average of $0.95 and a two-hundred day simple moving average of $1.46. The firm has a market capitalization of $576.94 million, a price-to-earnings ratio of -2.97 and a beta of 3.69.

Bitfarms (NASDAQ:BITF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Bitfarms had a negative net margin of 69.08% and a negative return on equity of 22.17%. The firm had revenue of $66.85 million during the quarter, compared to analysts' expectations of $67.17 million. Equities research analysts anticipate that Bitfarms Ltd. will post -0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BITF. HC Wainwright lowered 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. Industrial Alliance Securities set a $3.25 target price on shares of Bitfarms in a report on Thursday, March 27th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Bitfarms in a report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $3.84.

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.