In yesterday’s Wall Street session, Bitfarms Ltd. (NASDAQ:BITF) shares traded at $1.31, down -3.68% from the previous session.
BITF stock price is now -17.52% away from the 50-day moving average and 20.86% away from the 200-day moving average. The market capitalization of the company currently stands at $503.80M.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target of $2, Cantor Fitzgerald recently initiated with Overweight rating for Bitfarms Ltd. (NASDAQ: BITF).
Insiders disposed of 2,351,877 shares of company stock worth roughly $3.08 million over the past 1 year. A total of 7.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BITF stock. A new stake in Bitfarms Ltd. shares was purchased by RENAISSANCE TECHNOLOGIES LLC during the first quarter worth $2,055,000. CITADEL ADVISORS LLC invested $537,000 in shares of BITF during the first quarter. In the first quarter, XTX TOPCO LTD acquired a new stake in Bitfarms Ltd. valued at approximately $516,000. TWO SIGMA INVESTMENTS, LP acquired a new stake in BITF for approximately $474,000. CUBIST SYSTEMATIC STRATEGIES, LLC purchased a new stake in BITF valued at around $180,000 in the second quarter.
Friday morning saw Bitfarms Ltd. (NASDAQ: BITF) opened at $1.3700. During the past 12 months, Bitfarms Ltd. has had a low of $0.38 and a high of $2.16. As of last week, the company has a debt-to-equity ratio of 0.12, a current ratio of 1.90, and a quick ratio of 1.90. The fifty day moving average price for BITF is $1.5854 and a two-hundred day moving average price translates $1.0867 for the stock.
The latest earnings results from Bitfarms Ltd. (NASDAQ: BITF) was released for Jun, 2023. According to the Capital Markets Company, earnings per share came in at -$0.06, missing analysts’ expectations of -$0.05 by -0.01. This compares to -$0.70 EPS in the same period last year. The company reported revenue of $35.48 million for the quarter, compared to $41.81 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -15.15 percent. For the current quarter, analysts expect BITF to generate $36.38M in revenue.
Bitfarms Ltd.(BITF) 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. It also undertakes hosting of third-party mining hardware. Bitfarms Ltd. was founded in 2017 and is based in Toronto, Canada.
