Bitfarms (BITF) Stock Price, News & Analysis

Company Overview

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. It also undertakes hosting of third-party mining hardware. The company was founded in 2017 and is based in Toronto, Canada.

Key Stats

• Today's Range: $2.10 to $2.28
• 50-Day Range: $1.73 to $2.69
• 52-Week Range: $1.01 to $3.91
• Volume: 42.08 million shs
• Average Volume: 37.84 million shs
• Market Capitalization: $1.02 billion
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $3.66
• Consensus Rating: Moderate Buy

Bitfarms Stock Analysis - MarketRank™

Bitfarms scored higher than 40% of companies evaluated by MarketBeat, and ranked 228th out of 338 stocks in the business services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Bitfarms has received a consensus rating of Moderate Buy. The company's average rating score is 2.80, and is based on 4 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Bitfarms has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Bitfarms are expected to grow in the coming year, from ($0.30) to ($0.13) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Bitfarms is -6.25, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Bitfarms is -6.25, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Bitfarms has a P/B Ratio of 2.56. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

11.52% of the float of Bitfarms has been sold short.

Short Interest Ratio / Days to Cover

Bitfarms has a short interest ratio ("days to cover") of 2, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Bitfarms has recently increased by 7.12%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Bitfarms does not currently pay a dividend.

Dividend Growth

Bitfarms does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

11.52% of the float of Bitfarms has been sold short.

Short Interest Ratio / Days to Cover

Bitfarms has a short interest ratio ("days to cover") of 2, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Bitfarms has recently increased by 7.12%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.8 / 5
• News Sentiment: 0.09

News Sentiment

Bitfarms has a news sentiment score of 0.09. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.62 average news sentiment score of Business Services companies.

News Coverage This Week

MarketBeat has tracked 13 news articles for Bitfarms this week, compared to 6 articles on an average week.

Search Interest

16 people have searched for BITF on MarketBeat in the last 30 days. This is an increase of 33% compared to the previous 30 days.

MarketBeat Follows

15 people have added Bitfarms to their MarketBeat watchlist in the last 30 days. This is an increase of 88% compared to the previous 30 days.

Company Ownership

• Score: 0.0 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Bitfarms insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 9.50% of the stock of Bitfarms is held by insiders.

Percentage Held by Institutions

Only 20.59% of the stock of Bitfarms is held by institutions.

BITF Stock Analysis - Frequently Asked Questions

How have BITF shares performed this year?

Bitfarms' stock was trading at $2.91 at the start of the year. Since then, BITF shares have decreased by 22.7% and is now trading at $2.25.
View the best growth stocks for 2024 here.

How were Bitfarms' earnings last quarter?

Bitfarms Ltd. (NASDAQ:BITF) posted its earnings results on Thursday, March, 7th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. The company had revenue of $46.24 million for the quarter, compared to analysts' expectations of $39.68 million. Bitfarms had a negative trailing twelve-month return on equity of 24.14% and a negative net margin of 69.08%.

Who are Bitfarms' major shareholders?

Bitfarms' top institutional investors include Van ECK Associates Corp (1.48%), State Street Corp (1.09%), Geode Capital Management LLC (0.42%) and Weiss Asset Management LP (0.35%).

How do I buy shares of Bitfarms?

Shares of BITF stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Bitfarms own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Bitfarms investors own include Meta Platforms (META), Palantir Technologies (PLTR), NVIDIA (NVDA), MARA (MARA), Riot Platforms (RIOT), Advanced Micro Devices (AMD) and Energy Transfer (ET).

Company Calendar

• Last Earnings: 3/07/2024
• Today: 11/17/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Business Services
• Industry: Nondepository credit institutions
• Sub-Industry: Banking
• Current Symbol: NASDAQ:BITF
• CUSIP: N/A
• CIK: 1812477
• Web: www.bitfarms.com
• Phone: 64-7259-1790
• Fax: N/A
• Employees: 110
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $3.66
• High Stock Price Target: $5.00
• Low Stock Price Target: $2.30
• Potential Upside/Downside: +62.7%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.80
• Research Coverage: 5 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($0.36)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-104,040,000.00
• Net Margins: -69.08%
• Pretax Margin: -64.50%
• Return on Equity: -24.14%
• Return on Assets: -20.41%

Debt

• Debt-to-Equity Ratio: 0.03
• Current Ratio: 5.11
• Quick Ratio: 5.09

Sales & Book Value

• Annual Sales: $172.70 million
• Price / Sales: 5.90
• Cash Flow: $0.09 per share
• Price / Cash Flow: 24.34
• Book Value: $0.88 per share
• Price / Book: 2.56

Miscellaneous

• Outstanding Shares: 452,819,000
• Free Float: 409,801,000
• Market Cap: $1.02 billion
• Optionable: Optionable
• Beta: 3.64