Bitfarms Ltd. (NASDAQ:BITF)’s traded shares stood at 5.31 million during the latest session, with the company’s beta value hitting 3.33. At the last check today, the stock’s price was $2.02, to imply an increase of 2.28% or $0.05 in intraday trading. The BITF share’s 52-week high remains $3.91, putting it -93.56% down since that peak but still an impressive 50.0% since price per share fell to its 52-week low of $1.01. The company has a valuation of $913.82M, with an average of 22.17 million shares in intraday trading volume over the past 10 days and average of 17.47 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Bitfarms Ltd. (BITF), translating to a mean rating of 1.00. Of 5 analyst(s) looking at the stock, 0 analyst(s) give BITF a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 5 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.1.
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Bitfarms Ltd. (NASDAQ:BITF) trade information
After registering a 2.28% upside in the latest session, Bitfarms Ltd. (BITF) has traded red over the past five days. The 5-day price performance for the stock is 7.75%, and -5.40% over 30 days. With these gigs, the year-to-date price performance is -30.76%. Short interest in Bitfarms Ltd. (NASDAQ:BITF) saw shorts transact 35.64 million shares and set a 2.46 days time to cover.
The extremes give us $2.3 and $6 for target low and target high price respectively. As such, BITF has been trading -197.03% off suggested target high and -13.86% from its likely low.
Bitfarms Ltd. (BITF) estimates and forecasts
Looking at statistics comparing Bitfarms Ltd. share performance against respective industry, we note that the company has underperformed competitors. Bitfarms Ltd. (BITF) shares are 0.50% up over the last 6 months, with its year-to-date growth rate lower than industry average at -42.86% against 18.90%. Revenue is forecast to shrink -42.90% this quarter before jumping 68.40% for the next one. The rating firms project that company’s revenue will grow 51.50% compared to the previous financial year.
Revenue forecast for the current quarter as set by 6 analysts is 52.31M. Meanwhile, for the current quarter, a total of 6 analyst(s) estimate revenue growth to 77.6M.Earnings reports from the last fiscal year show that sales brought in 34.6M and 46.24M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 51.20% before jumping 67.80% in the following quarter.
BITF Dividends
Bitfarms Ltd. has its next earnings report out on 2024-Aug-08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Bitfarms Ltd. (NASDAQ:BITF)’s Major holders
The next major institution holding the largest number of shares is TOROSO INVESTMENTS, LLC with 6.62 million shares, or about 1.9535% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $17.01 million.
We also have Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF as the top two Mutual Funds with the largest holdings of the Bitfarms Ltd. (BITF) shares. Going by data provided on Jun 30, 2024, Amplify Transformational Data Sharing ETF holds roughly 6.58 shares. This is just over 1.45% of the total shares, with a market valuation of $13.04 million. Data from the same date shows that the other fund manager holds a little less at 4.92, or 1.09% of the shares, all valued at about 9.75 million.
