Bitfarms (NASDAQ:BITF - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.07, Zacks reports. The firm had revenue of $54.40 million for the quarter, compared to the consensus estimate of $54.22 million. Bitfarms had a negative net margin of 69.08% and a negative return on equity of 22.17%.
Bitfarms Price Performance
NASDAQ:BITF traded down $0.05 during trading hours on Monday, hitting $0.79. 31,137,169 shares of the stock were exchanged, compared to its average volume of 28,904,930. The company has a market cap of $377.81 million, a P/E ratio of -2.19 and a beta of 3.68. The firm's fifty day moving average price is $1.26 and its 200 day moving average price is $1.71. Bitfarms has a 52-week low of $0.77 and a 52-week high of $3.28. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04.
Wall Street Analysts Forecast Growth
BITF has been the topic of several recent analyst reports. HC Wainwright lowered their target price on shares of Bitfarms from $4.00 to $3.50 and set a "buy" rating on the stock in a research note on Thursday. Alliance Global Partners reiterated a "buy" rating on shares of Bitfarms in a research report on Thursday. Finally, Keefe, Bruyette & Woods began coverage on Bitfarms in a report on Wednesday, January 8th. They issued an "outperform" rating on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $3.97.
View Our Latest Stock Report on Bitfarms
Bitfarms Company Profile
(
Get Free Report)
Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.
Further Reading
Before you consider Bitfarms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bitfarms wasn't on the list.
While Bitfarms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
