Stocks of Bitfarms Ltd. (NASDAQ:BITF) traded higher last session on Wall Street, down -1.33% to $2.23.
BITF stock price is now -15.78% away from the 50-day moving average and 24.13% away from the 200-day moving average. The market capitalization of the company currently stands at $673.15M.
With the price target of $4, B. Riley Securities recently initiated with Buy rating for Bitfarms Ltd. (NASDAQ: BITF). On May 19, 2023, Cantor Fitzgerald recently initiated its ‘Overweight’ rating on the stock quoting a target price of $2
A total of 4.69% of the company’s stock is owned by insiders.
During the past 12 months, Bitfarms Ltd. has had a low of $0.80 and a high of $3.91. As of last week, the company has a debt-to-equity ratio of 0.07, a current ratio of 1.88, and a quick ratio of 1.87. The fifty day moving average price for BITF is $2.6338 and a two-hundred day moving average price translates $1.8016 for the stock.
The latest earnings results from Bitfarms Ltd. (NASDAQ: BITF) was released for Dec, 2023. According to the Capital Markets Company, earnings per share came in at -$0.19, missing analysts’ expectations of -$0.03 by -0.16. This compares to $0.23 EPS in the same period last year. The net profit margin was -70.53% and return on equity was -37.52% for BITF. The company reported revenue of $46.24 million for the quarter, compared to $27.04 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 71.03 percent. For the current quarter, analysts expect BITF to generate $48.96M 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. The company was founded in 2017 and is based in Toronto, Canada.
