In the last trading session, 22.41 million Bitfarms Ltd (NASDAQ:BITF) shares changed hands as the company’s beta touched 3.59. With the company’s per share price at $1.11 changed hands at $0.02 or 1.83% during last session, the market valuation stood at $496.21M. BITF’s last price was a discount, traded about -195.5% off its 52-week high of $3.28. The share price had its 52-week low at $1.06, which suggests the last value was 4.5% up since then. When we look at Bitfarms Ltd’s average trading volume, we note the 10-day average is 33.28 million shares, with the 3-month average coming to 40.50 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 green as seen at the end of in last trading. With action -10.48%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -25.50%, with the 5-day performance at -10.48% in the red. However, in the 30-day time frame, Bitfarms Ltd (NASDAQ:BITF) is -18.38% down. Looking at the short shares, we see there were 59.41 million shares sold at short interest cover period of 1.6 days.
The consensus price target for the stock as assigned by Wall Street analysts is 4, meaning bulls need an upside of 72.25% from its current 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 -440.54% plunge from its current level, while the stock would need to soar -107.21% for it to hit the projected low.
Bitfarms Ltd (BITF) estimates and forecasts
Year-over-year growth is forecast to reach 31.23% 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 54.22M. 4 analysts are of the opinion that Bitfarms Ltd’s revenue for the current quarter will be 74.07M. 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 17.25%. The estimates for the next quarter sales put growth at 47.21%.
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 2025 estimates are for Bitfarms Ltd earnings to increase by 46.50%.
BITF Dividends
Bitfarms Ltd is expected to release its next quarterly earnings report on 2024-Nov-12.
Bitfarms Ltd (NASDAQ:BITF)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 17.50% of Bitfarms Ltd shares while 23.76% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 28.80%. There are 23.76% institutions holding the Bitfarms Ltd stock share, with INVESCO LTD. the top institutional holder. As of 2024-06-30, the company held 4.9128% of the shares, roughly 19.71 million BITF shares worth $50.66 million.
TOROSO INVESTMENTS, LLC holds the second largest percentage of outstanding shares, with 1.6492% or 6.62 million shares worth $17.01 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2024 were Valkyrie ETF Tr II-Valkyrie Bitcoin Miners ETF and VanEck ETF Trust-VanEck Digital Transformation ETF . With 5.63 shares estimated at $6.25 million under it, the former controlled 1.17% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Digital Transformation ETF held about 1.04% of the shares, roughly 4.96 shares worth around $5.51 million.
