In recent trading session today, 2.6 million shares of the Bitfarms Ltd. (NASDAQ:BITF) have been traded, and its beta is 3.34. Most recently the company’s share price was $1.92, and it changed around $0.03 or 1.59% from the last close, which brings the market valuation of the company to $870.74M. BITF at last check was trading at a discount to its 52-week high of $3.91, offering almost -103.65% off that amount. The share price’s 52-week low was $0.92, which indicates that the recent value has risen by an impressive 52.08% since then. We note from Bitfarms Ltd.’s average daily trading volume that its 10-day average is 16.63 million shares, with the 3-month average coming to 18.19 million.
Bitfarms Ltd. stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 1 recommended BITF as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Bitfarms Ltd. is expected to report earnings per share of -0.09 for the current quarter.
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Bitfarms Ltd. (NASDAQ:BITF) trade information
Instantly BITF has been showing a green trend so far today with a performance of 1.59% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 2.0600 on recent trading dayincreased the stock’s daily price by 6.8%. The company’s shares are currently down -34.02% year-to-date, but still down -3.03% over the last five days. On the other hand, Bitfarms Ltd. (NASDAQ:BITF) is -1.03% down in the 30-day period. We can see from the shorts that 32.45 million shares have been sold at a short interest cover period of 2.28 day(s).
The consensus price target as assigned by Wall Street analysts is $4, which translates to bulls needing to increase their stock price by 52.0% from its current value. Analyst projections state that BITF is forecast to be at a low of $2.3 and a high of $6.
Bitfarms Ltd. (BITF) estimates and forecasts
Bitfarms Ltd. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -2.29 percent over the past six months and at a -38.10% annual growth rate that is well below the industry average of 17.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -28.60% in revenue this quarter, and will report an increase of 68.40% in the next quarter. The year-over-year growth rate is expected to be 52.50%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of 52.79M in revenue for the current quarter. 6 analysts expect Bitfarms Ltd. to make 78.48M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 34.6M and 46.24M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 52.60%. Forecasts for the next quarter put sales growth at 69.70%. Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -19.31%.
Bitfarms Ltd. (NASDAQ:BITF)’s Major holders
TOROSO INVESTMENTS, LLC, with 1.9535% or 6.62 million shares worth $17.01 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF were the top two Mutual Funds as of Jun 30, 2024. The former held 6.58 shares worth $12.53 million, making up 1.45% of all outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF held roughly 4.91 shares worth around $9.35 million, which represents about 1.08% of the total shares outstanding.