Bitfarms (BITF) Scheduled to Post Earnings on Tuesday

Bitfarms (NASDAQ:BITF - Get Free Report) is scheduled to announce its earnings results before the market opens on Tuesday, November 12th. Analysts expect Bitfarms to post earnings of ($0.12) per share for the quarter.

Bitfarms (NASDAQ:BITF - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. Bitfarms had a negative return on equity of 18.94% and a negative net margin of 62.79%. The firm had revenue of $41.55 million during the quarter, compared to analyst estimates of $44.59 million. On average, analysts expect Bitfarms to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bitfarms Price Performance

BITF stock traded up $0.08 on Tuesday, hitting $1.81. 25,895,818 shares of the company's stock traded hands, compared to its average volume of 22,375,625. The company has a current ratio of 5.11, a quick ratio of 5.09 and a debt-to-equity ratio of 0.03. The stock has a market cap of $819.60 million, a price-to-earnings ratio of -5.19 and a beta of 3.64. Bitfarms has a 1-year low of $1.01 and a 1-year high of $3.91. The stock has a fifty day moving average of $2.01 and a 200-day moving average of $2.22.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BITF. Cantor Fitzgerald restated an "overweight" rating and set a $5.00 price target on shares of Bitfarms in a report on Thursday, October 3rd. HC Wainwright reiterated a "buy" rating and issued a $4.00 target price on shares of Bitfarms in a report on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.66.

Bitfarms Company Profile

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.