Sloy Dahl & Holst LLC Takes $44,000 Position in Bitfarms Ltd. (NASDAQ:BITF)

Sloy Dahl & Holst LLC purchased a new stake in shares of Bitfarms Ltd. (NASDAQ:BITF) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,970 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds also recently made changes to their positions in BITF. Portside Wealth Group LLC bought a new position in shares of Bitfarms during the second quarter worth about $25,000. Pasadena Private Wealth LLC bought a new position in shares of Bitfarms during the fourth quarter worth about $34,000. UBS Group AG raised its position in shares of Bitfarms by 76.3% during the second quarter. UBS Group AG now owns 30,793 shares of the company’s stock worth $34,000 after acquiring an additional 13,327 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Bitfarms by 1,237.8% during the third quarter. Tower Research Capital LLC TRC now owns 35,585 shares of the company’s stock worth $37,000 after acquiring an additional 32,925 shares during the last quarter. Finally, HBW Advisory Services LLC bought a new position in shares of Bitfarms during the third quarter worth about $44,000. 20.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BITF shares. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Bitfarms in a research report on Tuesday, March 26th. Cantor Fitzgerald restated an “overweight” rating and set a $4.00 price objective on shares of Bitfarms in a research report on Thursday, March 28th.

Bitfarms Trading Up 0.6 %

BITF stock traded up $0.01 during mid-day trading on Wednesday, reaching $1.72. The company’s stock had a trading volume of 4,192,119 shares, compared to its average volume of 24,999,184. The company has a market cap of $612.82 million, a price-to-earnings ratio of -4.65 and a beta of 3.62. The business’s 50 day moving average price is $2.56 and its 200 day moving average price is $2.11. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.04. Bitfarms Ltd. has a 12 month low of $0.92 and a 12 month high of $3.91.

Bitfarms (NASDAQ:BITF) last issued its earnings results on Thursday, March 7th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $46.24 million during the quarter, compared to the consensus estimate of $39.68 million. Bitfarms had a negative return on equity of 19.58% and a negative net margin of 70.53%. During the same period in the previous year, the company posted ($0.07) earnings per share. On average, equities research analysts predict that Bitfarms Ltd. will post -0.1 EPS for the current year.

Bitfarms Company 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.