In the last trading session, 41.84 million shares of the Bitfarms Ltd (NASDAQ:BITF) were traded, and its beta was 3.36. Most recently the company’s share price was $2.25, and it changed around $0.14 or 6.64% from the last close, which brings the market valuation of the company to $1.53B. BITF currently trades at a discount to its 52-week high of $3.91, offering almost -73.78% off that amount. The share price’s 52-week low was $1.01, which indicates that the current value has risen by an impressive 55.11% since then. We note from Bitfarms Ltd’s average daily trading volume that its 10-day average is 44.65 million shares, with the 3-month average coming to 22.42 million.
Bitfarms Ltd stock received a consensus recommendation rating of Buy, based on a mean score of 1.25. 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 -0.04 for the current quarter.
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Bitfarms Ltd (NASDAQ:BITF) trade information
Instantly BITF has showed a green trend with a performance of 6.64% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 2.76 on recent trading dayincreased the stock’s daily price by 18.48%. The company’s shares are currently down -22.68% year-to-date, but still up 0.45% over the last five days. On the other hand, Bitfarms Ltd (NASDAQ:BITF) is 20.32% up in the 30-day period. We can see from the shorts that 41.83 million shares have been sold at a short interest cover period of 1.74 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 43.75% 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 risen 28.57 percent over the past six months and at a 4.76% annual growth rate that is well below the industry average of 19.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 78.95% in revenue this quarter, and will report an increase of 87.50% in the next quarter. The year-over-year growth rate is expected to be 33.27%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of 58.48M in revenue for the current quarter. 5 analysts expect Bitfarms Ltd to make 88.83M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 46.24M and 50.32M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 26.46%. Forecasts for the next quarter put sales growth at 76.54%.
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 in December.
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.
