B. Riley Predicts Bitfarms' FY2025 Earnings (NASDAQ:BITF)

Bitfarms Ltd. (NASDAQ:BITF - Free Report) - Equities research analysts at B. Riley increased their FY2025 earnings per share estimates for shares of Bitfarms in a research report issued to clients and investors on Wednesday, December 18th. B. Riley analyst L. Pipes now forecasts that the company will earn ($0.01) per share for the year, up from their prior 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.

Other analysts have also issued research reports about the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $5.00 price objective on shares of Bitfarms in a research report on Thursday, October 3rd. Alliance Global Partners initiated coverage on shares of Bitfarms in a research note on Wednesday, December 4th. They set a "buy" rating and a $6.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $4.00 target price on shares of Bitfarms in a research report on Thursday, November 14th. Finally, Stifel Canada upgraded Bitfarms from a "hold" rating to a "moderate buy" rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.05.

Bitfarms Stock Down 6.3 %

Shares of Bitfarms stock traded down $0.11 during trading on Monday, reaching $1.57. The stock had a trading volume of 12,873,861 shares, compared to its average volume of 26,362,904. The stock has a fifty day moving average price of $2.07 and a two-hundred day moving average price of $2.25. Bitfarms has a 52 week low of $1.52 and a 52 week high of $3.91. The company has a market capitalization of $712.92 million, a price-to-earnings ratio of -4.37 and a beta of 3.59. The company has a current ratio of 3.70, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Bitfarms

Institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers grew its stake in Bitfarms by 42.7% in the 2nd quarter. Cetera Investment Advisers now owns 999,783 shares of the company's stock valued at $2,579,000 after buying an additional 299,273 shares during the last quarter. K2 Principal Fund L.P. acquired a new position in shares of Bitfarms in the 2nd quarter valued at approximately $816,000. Marshall Wace LLP bought a new stake in Bitfarms during the second quarter worth $4,016,000. Van ECK Associates Corp lifted its position in shares of Bitfarms by 17.7% during the 3rd quarter. Van ECK Associates Corp now owns 6,075,744 shares of the company's stock worth $11,969,000 after buying an additional 911,952 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Bitfarms by 22.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,562 shares of the company's stock valued at $176,000 after purchasing an additional 15,167 shares in the last quarter. Institutional investors and hedge funds own 20.59% of the company's stock.

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.