In yesterday’s Wall Street session, Bitfarms Ltd. (NASDAQ:BITF) shares traded at $1.18, down -2.48% from the previous session.
As of this writing, 4 analysts cover Bitfarms Ltd. (NASDAQ:BITF). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $3.75 and a low of $2.00, we find $3.13. Given the previous closing price of $1.21, this indicates a potential upside of 158.68 percent. BITF stock price is now 7.32% away from the 50-day moving average and -1.66% away from the 200-day moving average. The market capitalization of the company currently stands at $284.98M.
There are 0 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $3.00 as their price target over the next twelve months.
With the price target of $2, Cantor Fitzgerald recently initiated with Overweight rating for Bitfarms Ltd. (NASDAQ: BITF).
Insiders disposed of 1,360,920 shares of company stock worth roughly $1.61 million over the past 1 year. A total of 6.46% of the company’s stock is owned by insiders.
Friday morning saw Bitfarms Ltd. (NASDAQ: BITF) opened at $1.2300. 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 0.09, a current ratio of 2.82, and a quick ratio of 2.80. The fifty day moving average price for BITF is $1.0987 and a two-hundred day moving average price translates $1.2000 for the stock.
The latest earnings results from Bitfarms Ltd. (NASDAQ: BITF) was released for Sep, 2023. According to the Capital Markets Company, earnings per share came in at -$0.07, missing analysts’ expectations of -$0.04 by -0.03. This compares to -$0.40 EPS in the same period last year. The net profit margin was -49.48% and return on equity was -22.86% for BITF. The company reported revenue of $34.6 million for the quarter, compared to $33.25 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.06 percent. For the current quarter, analysts expect BITF to generate $37.84M in revenue.