B. Riley Has Optimistic Outlook of Bitfarms FY2025 Earnings

Bitfarms Ltd. (NASDAQ:BITF - Free Report) - Analysts at B. Riley upped their FY2025 earnings per share (EPS) estimates for shares of Bitfarms in a note issued to investors on Wednesday, December 18th. B. Riley analyst L. Pipes now anticipates that the company will earn ($0.01) per share for the year, up from their previous estimate of ($0.05). The consensus estimate for Bitfarms' current full-year earnings is ($0.21) per share. B. Riley also issued estimates for Bitfarms' FY2026 earnings at $0.01 EPS.

Several other brokerages have also recently issued reports on BITF. Stifel Canada raised shares of Bitfarms from a "hold" rating to a "moderate buy" rating in a research note on Friday, November 22nd. Cantor Fitzgerald restated an "overweight" rating and issued a $5.00 price target on shares of Bitfarms in a research report on Thursday, October 3rd. Alliance Global Partners initiated coverage on Bitfarms in a research report on Wednesday, December 4th. They set a "buy" rating and a $6.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $4.00 target price on shares of Bitfarms in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Bitfarms currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.05.

Bitfarms Price Performance

Shares of Bitfarms stock traded down $0.09 during trading hours on Monday, reaching $1.59. 35,379,211 shares of the company's stock were exchanged, compared to its average volume of 26,461,264. The business has a fifty day moving average of $2.07 and a two-hundred day moving average of $2.25. The company has a quick ratio of 3.68, a current ratio of 3.70 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $720.17 million, a P/E ratio of -4.42 and a beta of 3.59. Bitfarms has a 1 year low of $1.52 and a 1 year high of $3.91.

Hedge Funds Weigh In On Bitfarms

A number of hedge funds have recently modified their holdings of BITF. Chesapeake Capital Corp IL boosted its position in shares of Bitfarms by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the company's stock worth $50,000 after purchasing an additional 4,800 shares during the period. Gladstone Institutional Advisory LLC boosted its position in shares of Bitfarms by 3.2% during the third quarter. Gladstone Institutional Advisory LLC now owns 159,550 shares of the company's stock worth $337,000 after buying an additional 5,000 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Bitfarms in the third quarter valued at $25,000. WINTON GROUP Ltd purchased a new stake in shares of Bitfarms in the 2nd quarter valued at $38,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Bitfarms by 22.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,562 shares of the company's stock worth $176,000 after acquiring an additional 15,167 shares in the last quarter. 20.59% of the stock is currently owned by hedge funds and other institutional investors.

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.