During the recent session, Bitfarms Ltd (NASDAQ:BITF)’s traded shares were 14.15 million, with the beta value of the company hitting 3.46. At the last check today, the stock’s price was $1.68, reflecting an intraday gain of 1.51% or $0.02. The 52-week high for the BITF share is $3.91, that puts it down -132.74 from that peak though still a striking 12.5% gain since the share price plummeted to a 52-week low of $1.47. The company’s market capitalization is $796.16M, and the average intraday trading volume over the past 10 days was 42.84 million shares, and the average trade volume was 46.34 million shares over the past three months.
Bitfarms Ltd (BITF) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.00. BITF has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.
Bitfarms Ltd (NASDAQ:BITF) trade information
Bitfarms Ltd (BITF) registered a 1.51% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.51% in intraday trading to $1.68, hitting a weekly high. The stock’s 5-day price performance is 0.90%, and it has moved by -0.30% in 30 days. Based on these gigs, the overall price performance for the year is -19.38%. The short interest in Bitfarms Ltd (NASDAQ:BITF) is 59.48 million shares and it means that shorts have 1.21 day(s) to cover.
The consensus price target of analysts on Wall Street is $4, which implies an increase of 58.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.3 and $6 respectively. As a result, BITF is trading at a discount of -257.14% off the target high and -36.9% off the low.
Bitfarms Ltd (BITF) estimates and forecasts
Statistics show that Bitfarms Ltd has underperformed its competitors in share price, compared to the industry in which it operates. Bitfarms Ltd (BITF) shares have gone down -37.59% during the last six months, with a year-to-date growth rate less than the industry average at 0.00% against 15.30. In the rating firms’ projections, revenue will increase 31.74% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 56.11M as predicted by 7 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to 83.99M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 46.24M and 50.32M respectively. In this case, analysts expect current quarter sales to grow by 21.34% and then jump by 66.92% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -19.31%. While earnings are projected to return 47.00% in 2025.
BITF Dividends
Bitfarms Ltd is due to release its next quarterly earnings in February. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Bitfarms Ltd (NASDAQ:BITF)’s Major holders
The next largest institutional holding, with 6.62 million shares, is of TOROSO INVESTMENTS, LLC’s that is approximately 1.9535% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $17.01 million.
Also, the Mutual Funds coming in first place with the largest holdings of Bitfarms Ltd (BITF) shares are Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF. Data provided on Sep 30, 2024 indicates that Amplify Transformational Data Sharing ETF owns about 6.16 shares. This amounts to just over 1.36 percent of the company’s overall shares, with a $10.44 million market value. The same data shows that the other fund manager holds slightly less at 4.89, or about 1.08% of the stock, which is worth about $8.29 million.
