Bitfarms (BITF) Scheduled to Post Earnings on Monday

Bitfarms (NASDAQ:BITF - Get Free Report) is set to release its earnings data before the market opens on Monday, May 13th. Analysts expect Bitfarms to post earnings of ($0.03) per share for the quarter.

Bitfarms (NASDAQ:BITF - Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. Bitfarms had a negative return on equity of 19.58% and a negative net margin of 70.53%. The firm had revenue of $46.24 million during the quarter, compared to analyst estimates of $39.68 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. On average, analysts expect Bitfarms to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bitfarms Stock Up 5.5 %

Shares of BITF traded up $0.10 during mid-day trading on Monday, hitting $1.92. The company's stock had a trading volume of 16,596,479 shares, compared to its average volume of 24,038,057. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.04. The company's 50-day moving average is $2.24 and its 200-day moving average is $2.19. Bitfarms has a 52-week low of $0.92 and a 52-week high of $3.91. The firm has a market capitalization of $684.08 million, a price-to-earnings ratio of -5.19 and a beta of 3.65.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $4.00 price objective on shares of Bitfarms in a research report on Thursday, March 28th. Northland Securities assumed coverage on Bitfarms in a report on Thursday, April 25th. They issued an "outperform" rating and a $4.00 price target for the company. Finally, HC Wainwright restated a "buy" rating and set a $4.00 price objective on shares of Bitfarms in a report on Tuesday, March 26th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $4.20.

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.