Future Outlook And Stock Price Performance For Bitfarms Ltd. (NASDAQ: BITF)

In the last trading session, 23.2 million shares of the Bitfarms Ltd. (NASDAQ:BITF) were traded, and its beta was 3.28. Most recently the company’s share price was $2.18, and it changed around -$0.09 or -3.75% from the last close, which brings the market valuation of the company to $658.05M. BITF currently trades at a discount to its 52-week high of $3.91, offering almost -79.36% off that amount. The share price’s 52-week low was $0.82, which indicates that the current value has risen by an impressive 62.39% since then. We note from Bitfarms Ltd.’s average daily trading volume that its 10-day average is 27.88 million shares, with the 3-month average coming to 26.98 million.

Bitfarms Ltd. (NASDAQ:BITF) trade information

Instantly BITF has showed a red trend with a performance of -3.75% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -25.09% year-to-date, but still down -4.80% over the last five days. On the other hand, Bitfarms Ltd. (NASDAQ:BITF) is -25.60% down in the 30-day period. We can see from the shorts that 26.85 million shares have been sold at a short interest cover period of 0.88 day(s).

Bitfarms Ltd. (BITF) estimates and forecasts

Bitfarms Ltd. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 103.74 percent over the past six months and at a 19.05% annual growth rate that is well above the industry average of 17.70%. The year-over-year growth rate is expected to be 72.40%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $48.96 million in revenue for the current quarter. 3 analysts expect Bitfarms Ltd. to make $53.59 million in revenue for the quarter ending Jun 2024. Forecasts for the next quarter put sales growth at 57.20%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -19.31%.

BITF Dividends

Bitfarms Ltd.’s next quarterly earnings report is expected to be released around March 19 and March 25.

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

Upon looking at major shareholders, it appears that insiders hold 4.71% of Bitfarms Ltd. shares, and 21.07% of them are in the hands of institutional investors. The stock currently has a share float of 22.11%. Bitfarms Ltd. stock is held by 153 institutions, with Invesco Ltd. being the largest institutional investor. By Jun 29, 2023, it held 2.87% of the shares, which is about 6.3 million shares worth $9.26 million.

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

Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF were the top two Mutual Funds as of Jul 30, 2023. The former held 12.42 million shares worth $23.22 million, making up 5.66% of all outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF held roughly 4.26 million shares worth around $5.79 million, which represents about 1.94% of the total shares outstanding.