Sloy Dahl & Holst LLC Makes New Investment in Bitfarms Ltd. (NASDAQ:BITF)

Sloy Dahl & Holst LLC bought a new position in Bitfarms Ltd. (NASDAQ:BITF) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,970 shares of the company’s stock, valued at approximately $44,000.

Other institutional investors have also added to or reduced their stakes in the company. Pasadena Private Wealth LLC bought a new position in Bitfarms in the 4th quarter worth about $34,000. Vontobel Holding Ltd. bought a new position in Bitfarms in the 1st quarter worth about $51,000. XTX Topco Ltd bought a new position in Bitfarms in the 1st quarter worth about $57,000. DMC Group LLC bought a new position in Bitfarms in the 4th quarter worth about $47,000. Finally, Portside Wealth Group LLC bought a new position in Bitfarms in the 2nd quarter worth about $25,000. 20.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Bitfarms Price Performance

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

Bitfarms (NASDAQ:BITF) last issued its earnings results on Thursday, March 7th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $46.24 million during the quarter, compared to analysts’ expectations 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 prior year, the business posted ($0.07) EPS. On average, equities analysts predict that Bitfarms Ltd. will post -0.1 EPS for the current fiscal year.

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.