Bitfarms (NASDAQ:BITF - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.07, Zacks reports. Bitfarms had a negative net margin of 69.08% and a negative return on equity of 22.17%. The business had revenue of $54.40 million for the quarter, compared to analyst estimates of $54.22 million.
Bitfarms Trading Down 6.5 %
NASDAQ BITF traded down $0.05 on Monday, hitting $0.79. The company's stock had a trading volume of 31,137,169 shares, compared to its average volume of 28,904,930. The firm has a market cap of $377.81 million, a PE ratio of -2.19 and a beta of 3.68. The company's 50-day moving average is $1.26 and its 200 day moving average is $1.71. The company has a quick ratio of 3.68, a current ratio of 3.70 and a debt-to-equity ratio of 0.04. Bitfarms has a 1-year low of $0.77 and a 1-year high of $3.28.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Alliance Global Partners reaffirmed a "buy" rating on shares of Bitfarms in a report on Thursday. Keefe, Bruyette & Woods started coverage on Bitfarms in a research note on Wednesday, January 8th. They issued an "outperform" rating on the stock. Finally, HC Wainwright decreased their price target on shares of Bitfarms from $4.00 to $3.50 and set a "buy" rating on the stock in a report on Thursday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $3.97.
Get Our Latest Analysis on Bitfarms
Bitfarms Company Profile
(
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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.
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