In the last trading session, 8.64 million Bitfarms Ltd. (NASDAQ:BITF) shares changed hands as the company’s beta touched 3.07. With the company’s per share price at $1.18 changed hands at -$0.03 or -2.48% during last session, the market valuation stood at $284.98M. BITF’s last price was a discount, traded about -83.05% off its 52-week high of $2.16. The share price had its 52-week low at $0.38, which suggests the last value was 67.8% up since then. When we look at Bitfarms Ltd.’s average trading volume, we note the 10-day average is 9.84 million shares, with the 3-month average coming to 7.13 million.

Analysts gave the Bitfarms Ltd. (BITF) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended BITF as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Bitfarms Ltd.’s EPS for the current quarter is expected to be -$0.03.

Bitfarms Ltd. (NASDAQ:BITF) trade information

Instantly BITF was in red as seen at the end of in last trading. With action -1.67%, the performance over the past five days has been red. The drop to weekly highs of 1.3600 on Friday, 11/17/23 subtracted -2.48% to the stock’s daily price. The company’s shares are showing year-to-date upside of 168.18%, with the 5-day performance at -1.67% in the red. However, in the 30-day time frame, Bitfarms Ltd. (NASDAQ:BITF) is 18.13% up. Looking at the short shares, we see there were 9.71 million shares sold at short interest cover period of 1.41 days.

The consensus price target for the stock as assigned by Wall Street analysts is $3.00, meaning bulls need an upside of 60.67% from its current market value. According to analyst projections, BITF’s forecast low is $2.00 with $3.75 as the target high. To hit the forecast high, the stock’s price needs a -217.8% plunge from its current level, while the stock would need to soar -69.49% for it to hit the projected low.

Bitfarms Ltd. (BITF) estimates and forecasts

Data shows that the Bitfarms Ltd. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 4.42% over the past 6 months, a 81.74% in annual growth rate that is considerably higher than the industry average of 12.00%.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $37.84 million. 1 analysts are of the opinion that Bitfarms Ltd.’s revenue for the quarter ending Mar 2024 will be $42.01 million.

The 2023 estimates are for Bitfarms Ltd. earnings to increase by 80.64%.

BITF Dividends

Bitfarms Ltd. is expected to release its next quarterly earnings report on November 07.

Bitfarms Ltd. (NASDAQ:BITF)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 7.10% of Bitfarms Ltd. shares while 14.56% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 15.67%. There are 14.56% institutions holding the Bitfarms Ltd. stock share, with Invesco Ltd. the top institutional holder. As of Jun 29, 2023, the company held 2.87% of the shares, roughly 6.3 million BITF shares worth $9.26 million.

State Street Corporation holds the second largest percentage of outstanding shares, with 1.93% or 4.23 million shares worth $6.22 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jul 30, 2023 were Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF. With 12.42 million shares estimated at $23.22 million under it, the former controlled 5.66% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF held about 1.94% of the shares, roughly 4.26 million shares worth around $5.79 million.