Q1 Earnings Estimate for Bitfarms Issued By Northland Capmk

Bitfarms Ltd. (NASDAQ:BITF - Free Report) - Investment analysts at Northland Capmk lifted their Q1 2025 earnings estimates for Bitfarms in a report issued on Wednesday, January 29th. Northland Capmk analyst M. Grondahl now forecasts that the company will post earnings of ($0.01) per share for the quarter, up from their previous estimate of ($0.02). The consensus estimate for Bitfarms' current full-year earnings is ($0.21) per share. Northland Capmk also issued estimates for Bitfarms' Q2 2025 earnings at $0.00 EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.03 EPS and FY2025 earnings at $0.04 EPS.

Several other research firms have also weighed in on BITF. Keefe, Bruyette & Woods started coverage on Bitfarms in a report on Wednesday, January 8th. They set an "outperform" rating on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $4.00 price target on shares of Bitfarms in a research note on Thursday, November 14th. Stifel Canada raised shares of Bitfarms from a "hold" rating to a "moderate buy" rating in a report on Friday, November 22nd. Finally, Alliance Global Partners initiated coverage on shares of Bitfarms in a research note on Wednesday, December 4th. They issued a "buy" rating and a $6.00 target price for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Bitfarms presently has an average rating of "Moderate Buy" and a consensus target price of $4.05.

Bitfarms Price Performance

Shares of NASDAQ BITF traded up $0.09 during mid-day trading on Friday, hitting $1.49. 25,486,977 shares of the company's stock traded hands, compared to its average volume of 45,553,094. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.70 and a quick ratio of 3.68. Bitfarms has a 1 year low of $1.31 and a 1 year high of $3.91. The company's 50-day moving average is $1.76 and its two-hundred day moving average is $2.01. The company has a market capitalization of $672.60 million, a P/E ratio of -4.12 and a beta of 3.65.

Institutional Trading of Bitfarms

Institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers increased its holdings in Bitfarms by 42.7% in the 2nd quarter. Cetera Investment Advisers now owns 999,783 shares of the company's stock worth $2,579,000 after acquiring an additional 299,273 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Bitfarms by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,879,454 shares of the company's stock valued at $3,965,000 after buying an additional 81,760 shares during the period. Barclays PLC acquired a new stake in shares of Bitfarms during the third quarter worth about $161,000. State Street Corp lifted its holdings in Bitfarms by 1.3% during the 3rd quarter. State Street Corp now owns 4,917,729 shares of the company's stock worth $10,376,000 after buying an additional 63,916 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Bitfarms in the second quarter worth $4,016,000. 20.59% of the stock is currently owned by hedge funds and other institutional investors.

About Bitfarms

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.