Bitfarms Ltd. Forecasted to Earn FY2025 Earnings of $0.08 Per Share (NASDAQ:BITF)

Bitfarms Ltd. (NASDAQ:BITF) – Research analysts at Northland Capmk reduced their FY2025 earnings per share (EPS) estimates for Bitfarms in a report issued on Thursday, August 8th. Northland Capmk analyst M. Grondahl now anticipates that the company will post earnings of $0.08 per share for the year, down from their prior forecast of $0.09. The consensus estimate for Bitfarms’ current full-year earnings is ($0.31) per share.

A number of other research analysts also recently weighed in on BITF. Cantor Fitzgerald started coverage on shares of Bitfarms in a report on Tuesday, June 11th. They set an “overweight” rating and a $5.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of Bitfarms in a research report on Monday. Northland Securities assumed coverage on Bitfarms in a research note on Thursday, April 25th. They set an “outperform” rating and a $4.00 price target for the company. B. Riley reduced their target price on Bitfarms from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, May 17th. Finally, Stifel Nicolaus downgraded Bitfarms from a “speculative buy” rating to a “hold” rating and lowered their price target for the company from $3.25 to $2.30 in a report on Thursday, May 30th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.66.

Bitfarms Price Performance

NASDAQ BITF opened at $2.28 on Monday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $933.22 million, a PE ratio of -6.00 and a beta of 3.68. Bitfarms has a 12-month low of $0.92 and a 12-month high of $3.91. The company has a 50 day moving average price of $2.58 and a two-hundred day moving average price of $2.40.

Bitfarms (NASDAQ:BITF) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business had revenue of $50.32 million during the quarter, compared to analysts’ expectations of $50.51 million. Bitfarms had a negative return on equity of 19.24% and a negative net margin of 64.06%.

Hedge Funds Weigh In On Bitfarms

Several large investors have recently made changes to their positions in BITF. Swiss National Bank bought a new position in Bitfarms in the 1st quarter worth approximately $1,426,000. Shell Asset Management Co. bought a new position in Bitfarms during the first quarter worth $43,000. Shariaportfolio Inc. bought a new position in Bitfarms during the fourth quarter worth $2,051,000. Quadrature Capital Ltd acquired a new position in Bitfarms during the 1st quarter valued at $1,640,000. Finally, Sloy Dahl & Holst LLC bought a new stake in Bitfarms in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 20.59% of the company’s stock.

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.