In the latest trading session, 13.72 million Bitfarms Ltd (NASDAQ:BITF) shares changed hands as the company’s beta touched 3.42. With the company’s most recent per share price at $1.60 changed hands at -$0.08 or -4.76% at last look, the market valuation stands at $756.00M. BITF’s current price is a discount, trading about -144.38% off its 52-week high of $3.91. The share price had its 52-week low at $1.52, which suggests the last value was 5.0% up since then. When we look at Bitfarms Ltd’s average trading volume, we note the 10-day average is 54.02 million shares, with the 3-month average coming to 38.31 million.
Analysts gave the Bitfarms Ltd (BITF) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended BITF as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Bitfarms Ltd’s EPS for the current quarter is expected to be 0.
Bitfarms Ltd (NASDAQ:BITF) trade information
Instantly BITF was in red as seen in intraday trades today. With action -23.81%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -45.02%, with the 5-day performance at -23.81% in the red. However, in the 30-day time frame, Bitfarms Ltd (NASDAQ:BITF) is -21.95% down. Looking at the short shares, we see there were 45.09 million shares sold at short interest cover period of 0.94 days.
The consensus price target for the stock as assigned by Wall Street analysts is 4, meaning bulls need an upside of 60.0% from its recent market value. According to analyst projections, BITF’s forecast low is 2.3 with 6 as the target high. To hit the forecast high, the stock’s price needs a -275.0% plunge from its current level, while the stock would need to soar -43.75% for it to hit the projected low.
Bitfarms Ltd (BITF) estimates and forecasts
Data shows that the Bitfarms Ltd share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -42.45% over the past 6 months, a 0.00% in annual growth rate that is considerably lower than the industry average of 16.10%. Year-over-year growth is forecast to reach 32.52% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of 57.23M. 6 analysts are of the opinion that Bitfarms Ltd’s revenue for the current quarter will be 86.14M. The company’s revenue for the corresponding quarters a year ago was 46.24M and 50.32M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 23.76%. The estimates for the next quarter sales put growth at 71.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -19.31%. The 2024 estimates are for Bitfarms Ltd earnings to increase by 53.21%.
Bitfarms Ltd (NASDAQ:BITF)’s Major holders
TOROSO INVESTMENTS, LLC holds the second largest percentage of outstanding shares, with 1.9535% or 6.62 million shares worth $17.01 million as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF. With 6.16 shares estimated at $9.7 million under it, the former controlled 1.36% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF held about 1.09% of the shares, roughly 4.92 shares worth around $7.75 million.
