Should I buy or sell Bitfarms stock right now?

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Bitfarms in the last year. There are currently 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" BITF shares. View BITF analyst ratings or view top-rated stocks .

What is Bitfarms' stock price target for 2024?

4 brokerages have issued twelve-month target prices for Bitfarms' stock. Their BITF share price targets range from $4.00 to $5.00. On average, they predict the company's stock price to reach $4.25 in the next year. This suggests a possible upside of 145.7% from the stock's current price. View analysts price targets for BITF or view top-rated stocks among Wall Street analysts .

How have BITF shares performed in 2024?

Bitfarms' stock was trading at $2.91 on January 1st, 2024. Since then, BITF shares have decreased by 40.5% and is now trading at $1.73. View the best growth stocks for 2024 here .

When is Bitfarms' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, May 20th 2024. View our BITF earnings forecast .

How were Bitfarms' earnings last quarter?

Bitfarms Ltd. (NASDAQ:BITF) released 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 firm had revenue of $46.24 million for the quarter, compared to analyst estimates of $39.68 million. Bitfarms had a negative trailing twelve-month return on equity of 19.58% and a negative net margin of 70.53%. During the same quarter in the prior year, the business posted ($0.07) earnings per share.

What ETFs hold Bitfarms' stock?

ETFs with the largest weight of Bitfarms (NASDAQ:BITF) stock in their portfolio include Valkyrie Bitcoin Miners ETF (WGMI) , Global X Blockchain ETF (BKCH) , iShares Blockchain and Tech ETF (IBLC) , Invesco Alerian Galaxy Crypto Economy ETF (SATO) and Schwab Crypto Thematic ETF (STCE) . Amplify Transformational Data Sharing ETF (BLOK) .

Who are Bitfarms' major shareholders?

Bitfarms' stock is owned by many different institutional and retail investors. Top institutional investors include IMC Chicago LLC (0.00%) and Evanson Asset Management LLC (0.01%).

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 .

NASDAQ:BITF

Bitfarms (BITF) Stock Price, News & Analysis

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Free BITF Stock Alerts

$1.73

-0.08 (-4.42%)

(As of 04/15/2024 ET)

Compare

Today's Range: $1.73
▼
$1.85
50-Day Range: $1.73
▼
$3.61
52-Week Range: $0.92
▼
$3.91

Volume: 13.23 million shs
Average Volume: 20.66 million shs
Market Capitalization: $616.38 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $4.25

Get Bitfarms alerts:

Bitfarms MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 145.7% Upside
$4.25 Price Target
Short Interest: Bearish
9.46% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 1.25
Based on 3 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: Growing
From ($0.10) to $0.13 Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

1.33 out of 5 stars

Business Services Sector

247th out of 321 stocks

Nondepository Credit Institutions Industry

35th out of 46 stocks

3.5

Analyst's Opinion

Consensus Rating
Bitfarms has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 4 buy ratings, no hold ratings, and no sell ratings.
Amount of Analyst Coverage
Bitfarms has only been the subject of 2 research reports in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
9.46% 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 1, 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 1.30%, indicating that investor sentiment is decreasing.

0.0

Dividend Strength

Dividend Yield
Bitfarms does not currently pay a dividend.
Dividend Growth
Bitfarms does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for BITF.

2.4

News and Social Media Coverage

News Sentiment
Bitfarms has a news sentiment score of 1.25. 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 higher news sentiment than the 0.64 average news sentiment score of Business Services companies.
News Coverage This Week
MarketBeat has tracked 3 news articles for Bitfarms this week, compared to 3 articles on an average week.
Search Interest
Only 35 people have searched for BITF on MarketBeat in the last 30 days. This is a decrease of -48% compared to the previous 30 days.
MarketBeat Follows
Only 21 people have added Bitfarms to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

0.0

Company Ownership

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.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Bitfarms are expected to grow in the coming year, from ($0.10) to $0.13 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Bitfarms is -4.68, 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 -4.68, 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 1.97. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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About Bitfarms Stock (NASDAQ:BITF)

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.

BITF Stock Price History

30 days | 90 days | 365 days | Advanced Chart

BITF Stock News Headlines

April 12, 2024 | globenewswire.com

Bitfarms Reaches 7 EH/s with Completion of Fleet Upgrade at Garlock and Farnham Facilities

April 7, 2024 | investorplace.com

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Bitcoin mining sees higher profitability ahead of halving, JPMorgan report finds

April 1, 2024 | globenewswire.com

Bitfarms Announces March 2024 Production and Operations Update

March 27, 2024 | investorplace.com

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March 27, 2024 | investorplace.com

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March 26, 2024 | markets.businessinsider.com

Analysts Offer Insights on Financial Companies: Open Lending (LPRO) and Bitfarms (BITF)

March 25, 2024 | benzinga.com

A Closer Look at Bitfarms's Options Market Dynamics

March 25, 2024 | investorplace.com

3 Stocks Under $5 Ready to Outpace the Market

March 25, 2024 | globenewswire.com

Bitfarms Announces CEO Transition

March 22, 2024 | investorplace.com

3 Sub-$10 Stocks Poised to Triple Before 2025 Ends

March 22, 2024 | investorplace.com

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March 21, 2024 | seekingalpha.com

Not A Buy Until Bitfarms Makes Money

March 21, 2024 | investorplace.com

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March 13, 2024 | msn.com

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March 12, 2024 | investorplace.com

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3 Stocks to Buy as Bitcoin Reaches New Heights in March

March 11, 2024 | investorplace.com

3 Blockchain Stocks That Can Turn $100 Into $10,000 by 2026

March 11, 2024 | msn.com

Energy, tech shares weigh on TSX ahead of US inflation data

March 11, 2024 | markets.businessinsider.com

Compass Point Reaffirms Their Buy Rating on Bitfarms (BITF)

See More Headlines

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Company Calendar

Last Earnings: 3/07/2024
Today: 4/16/2024
Next Earnings (Estimated): 5/20/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Business Services
Industry: Nondepository credit institutions
Sub-Industry: N/A
Current Symbol: NASDAQ:BITF
CUSIP: N/A
CIK: 1812477
Web: www.bitfarms.com
Phone: 64-7259-1790
Fax: N/A
Employees: 170
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $4.25
High Stock Price Target: $5.00
Low Stock Price Target: $4.00
Potential Upside/Downside: +145.7%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 4 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.37)
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: -70.53%
Pretax Margin: -71.35%
Return on Equity: -19.58%
Return on Assets: -16.13%

Debt

Debt-to-Equity Ratio: 0.04
Current Ratio: 1.88
Quick Ratio: 1.88

Sales & Book Value

Annual Sales: $146.37 million
Price / Sales: 4.21
Cash Flow: $0.09 per share
Price / Cash Flow: 19.45
Book Value: $0.88 per share
Price / Book: 1.97

Miscellaneous

Outstanding Shares: 356,290,000
Free Float: 322,444,000
Market Cap: $616.38 million
Optionable: Optionable
Beta: 3.62

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Key Executives

Mr. L. Geoffrey Morphy
President, CEO & Director
Mr. Jeffrey P. Lucas (Age 64)
Chief Financial Officer
Comp: $552.47k
Mr. Benjamin Gagnon
Chief Mining Officer
Mr. Benoit Gobeil
Executive Vice President - Infrastructure and Operations
Mr. Marc-Andre Ammann
Vice President Finance & Accounting
Ms. Tracy H. Krumme (Age 56)
Senior VP & Head of Investor Relations
Ms. Stephanie Wargo
Vice President of Marketing & Communications
Mr. Philippe Fortier
Senior Vice President of Corporate Development
Ms. Andrea Keen Souza
Vice-President of Human Resources
Paul Magrath
Vice President of Taxation & Sustainability

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

BITF Stock Analysis - Frequently Asked Questions

Should I buy or sell Bitfarms stock right now?: 4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Bitfarms in the last year. There are currently 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" BITF shares.
View BITF analyst ratings or view top-rated stocks.
What is Bitfarms' stock price target for 2024?: 4 brokerages have issued twelve-month target prices for Bitfarms' stock. Their BITF share price targets range from $4.00 to $5.00. On average, they predict the company's stock price to reach $4.25 in the next year. This suggests a possible upside of 145.7% from the stock's current price.
View analysts price targets for BITF or view top-rated stocks among Wall Street analysts.
How have BITF shares performed in 2024?: Bitfarms' stock was trading at $2.91 on January 1st, 2024. Since then, BITF shares have decreased by 40.5% and is now trading at $1.73.
View the best growth stocks for 2024 here.
When is Bitfarms' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Monday, May 20th 2024.
View our BITF earnings forecast.

How were Bitfarms' earnings last quarter?: Bitfarms Ltd. (NASDAQ:BITF) released 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 firm had revenue of $46.24 million for the quarter, compared to analyst estimates of $39.68 million. Bitfarms had a negative trailing twelve-month return on equity of 19.58% and a negative net margin of 70.53%. During the same quarter in the prior year, the business posted ($0.07) earnings per share.
What ETFs hold Bitfarms' stock?: ETFs with the largest weight of Bitfarms (NASDAQ:BITF) stock in their portfolio include Valkyrie Bitcoin Miners ETF (WGMI), Global X Blockchain ETF (BKCH), iShares Blockchain and Tech ETF (IBLC), Invesco Alerian Galaxy Crypto Economy ETF (SATO) and Schwab Crypto Thematic ETF (STCE).Amplify Transformational Data Sharing ETF (BLOK).
Who are Bitfarms' major shareholders?: Bitfarms' stock is owned by many different institutional and retail investors. Top institutional investors include IMC Chicago LLC (0.00%) and Evanson Asset Management LLC (0.01%).
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.

This page (NASDAQ:BITF) was last updated on 4/16/2024 by MarketBeat.com Staff

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Bitfarms (BITF) Stock Price, News & Analysis

Bitfarms MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Bitfarms Stock (NASDAQ:BITF)

BITF Stock Price History

BITF Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Institutional Ownership

BITF Stock Analysis - Frequently Asked Questions

Overall MarketRank^™