In the last trading session, 20.6 million Bitfarms Ltd. (NASDAQ:BITF) shares changed hands as the company’s beta touched 3.29. With the company’s per share price at $2.31 changed hands at -$0.09 or -3.75% during last session, the market valuation stood at $697.30M. BITF’s last price was a discount, traded about -69.26% off its 52-week high of $3.91. The share price had its 52-week low at $0.82, which suggests the last value was 64.5% up since then. When we look at Bitfarms Ltd.’s average trading volume, we note the 10-day average is 22.86 million shares, with the 3-month average coming to 28.01 million.
Bitfarms Ltd. (NASDAQ:BITF) trade information
Instantly BITF was in red as seen at the end of in last trading. With action 2.21%, the performance over the past five days has been green. The drop to weekly highs of 2.56 subtracted -3.75% to the stock’s daily price. The company’s shares are showing year-to-date downside of -20.62%, with the 5-day performance at 2.21% in the green. However, in the 30-day time frame, Bitfarms Ltd. (NASDAQ:BITF) is -27.59% down. Looking at the short shares, we see there were 23.92 million shares sold at short interest cover period of 0.8 days.
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 111.93% over the past 6 months, a 19.05% in annual growth rate that is considerably higher than the industry average of 18.80%. Year-over-year growth is forecast to reach 72.40% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $48.96 million. 3 analysts are of the opinion that Bitfarms Ltd.’s revenue for the quarter ending Jun 2024 will be $53.59 million. The estimates for the next quarter sales put growth at 57.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -19.31%. The 2024 estimates are for Bitfarms Ltd. earnings to increase by 85.62%.
BITF Dividends
Bitfarms Ltd. is expected to release its next quarterly earnings report between March 19 and March 25.
Bitfarms Ltd. (NASDAQ:BITF)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.71% of Bitfarms Ltd. shares while 21.06% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 22.10%. There are 21.06% institutions holding the Bitfarms Ltd. stock share, with Invesco Ltd. the top institutional holder. As of Dec 30, 2023, the company held 3.28% of the shares, roughly 10.97 million BITF shares worth $25.34 million.
Arrowstreet Capital, Limited Partnership holds the second largest percentage of outstanding shares, with 2.67% or 8.93 million shares worth $20.63 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Oct 30, 2023 were Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF. With 11.35 million shares estimated at $26.22 million under it, the former controlled 3.40% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF held about 1.22% of the shares, roughly 4.09 million shares worth around $9.45 million.
