Bitfarms Ltd. (NASDAQ:BITF) has a beta value of 3.32 and has seen 8.91 million shares traded in the recent trading session. The company, currently valued at $1.09B, closed the recent trade at $2.74 per share which meant it gained $0.04 on the day or 1.67% during that session. The BITF stock price is -42.7% off its 52-week high price of $3.91 and 66.42% above the 52-week low of $0.92. If we look at the company’s 10-day average daily trading volume, we find that it stood at 24.97 million shares traded. The 3-month trading volume is 22.23 million shares.
The consensus among analysts is that Bitfarms Ltd. (BITF) is Buy stock at the moment, with a recommendation rating of 1.25. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 4 have rated it as a Hold, with 4 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.11.
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Bitfarms Ltd. (NASDAQ:BITF) trade information
Sporting 1.67% in the green today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the BITF stock price touched $2.74 or saw a rise of 10.46%. Year-to-date, Bitfarms Ltd. shares have moved -5.67%, while the 5-day performance has seen it change -7.26%. Over the past 30 days, the shares of Bitfarms Ltd. (NASDAQ:BITF) have changed 2.43%. Short interest in the company has seen 24.43 million shares shorted with days to cover at 0.89.
Wall Street analysts have a consensus price target for the stock at $4, which means that the shares’ value could jump 31.5% from the levels at last check today. The projected low price target is $2.3 while the price target rests at a high of $6. In that case, then, we find that the latest price level in today’s session is -118.98% off the targeted high while a plunge would see the stock lose 16.06% from the levels at last check today.
Bitfarms Ltd. (BITF) estimates and forecasts
Figures show that Bitfarms Ltd. shares have underperformed across the wider relevant industry. The company’s shares have gained 35.89% over the past 6 months, with this year growth rate of -9.52%, compared to 14.60% for the industry. Revenue growth from the last financial year stood is estimated to be 66.50%.
7 analysts offering their estimates for the company have set an average revenue estimate of 44.62M for the current quarter. 7 have an estimated revenue figure of 63.18M for the next ending quarter. Year-ago sales stood 34.1M and 34.6M respectively for this quarter and the next, and analysts expect sales will grow by 30.90% for the current quarter and 66.50% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -19.31% over the past 5 years.
BITF Dividends
Bitfarms Ltd. is expected to release its next earnings report in August this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Bitfarms Ltd. (NASDAQ:BITF)’s Major holders
Investors are also buoyed by the number of investors in a company, with Bitfarms Ltd. top two institutional holders are INVESCO LTD. with over 13.86 million shares worth more than $30.91 million. As of 2024-03-31, INVESCO LTD. held 5.2863% of shares outstanding.
The other major institutional holder is ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, with the holding of over 7.48 million shares as of 2024-03-31. The firm’s total holdings are worth over $16.63 million and represent 2.2084% of shares outstanding.
