Should I buy or sell Bitfarms stock right now?

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Bitfarms in the last twelve months. There are currently 4 buy ratings for the stock. The consensus among Wall Street 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 analysts have issued 1 year price targets for Bitfarms' stock. Their BITF share price targets range from $2.00 to $5.00. On average, they anticipate the company's share price to reach $3.67 in the next year. This suggests a possible upside of 109.5% 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 2023?

Bitfarms' stock was trading at $0.44 at the start of the year. Since then, BITF stock has increased by 297.7% and is now trading at $1.75. View the best growth stocks for 2023 here .

Are investors shorting Bitfarms?

Bitfarms saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 12,090,000 shares, an increase of 24.5% from the October 31st total of 9,710,000 shares. Based on an average daily volume of 7,550,000 shares, the short-interest ratio is currently 1.6 days. Approximately 5.4% of the company's stock are short sold. View Bitfarms' Short Interest .

When is Bitfarms' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, March 19th 2024. View our BITF earnings forecast .

How were Bitfarms' earnings last quarter?

Bitfarms Ltd. (NASDAQ:BITF) issued its quarterly earnings results on Monday, November, 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by $0.04. The company earned $34.60 million during the quarter, compared to analysts' expectations of $37.15 million. Bitfarms had a negative net margin of 49.48% and a negative trailing twelve-month return on equity of 19.17%.

What ETF holds Bitfarms' stock ?

iShares Blockchain and Tech ETF holds 102,855 shares of BITF stock, representing 2.03% of its portfolio.

Who are Bitfarms' major shareholders?

Bitfarms' stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Invesco Ltd. (4.54%), Toroso Investments LLC (1.83%), Van ECK Associates Corp (1.63%), Mirae Asset Global Investments Co. Ltd. (1.12%), Quadrature Capital Ltd (0.47%) and American Century Companies Inc. (0.37%).

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 WeBull , Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here .

Bitfarms Stock Price, News & Analysis (NASDAQ:BITF)

$1.75

+0.09 (+5.42%)

(As of 12/4/2023 ET)

Compare

Today's Range: $1.66
▼
$1.96
50-Day Range: $0.95
▼
$1.75
52-Week Range: $0.38
▼
$2.16

Volume: 68.52 million shs
Average Volume: 7.77 million shs
Market Capitalization: $563.73 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $3.67

Bitfarms MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 109.5% Upside
$3.67 Price Target
Short Interest: Bearish
5.35% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.42
Based on 19 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: Decreasing
From ($0.21) to ($0.22) Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.72 out of 5 stars

Business Services Sector

228th out of 301 stocks

Nondepository Credit Institutions Industry

31st 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.
Price Target Upside/Downside
According to analysts' consensus price target of $3.67, Bitfarms has a forecasted upside of 109.5% from its current price of $1.75.
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
5.35% 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 1.6, 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 24.51%, indicating that investor sentiment is decreasing significantly.

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.

3.0

News and Social Media Coverage

News Sentiment
Bitfarms has a news sentiment score of 0.42. 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 lower news sentiment than the 0.64 average news sentiment score of Business Services companies.
News Coverage This Week
MarketBeat has tracked 19 news articles for Bitfarms this week, compared to 1 article on an average week.
Search Interest
19 people have searched for BITF on MarketBeat in the last 30 days. This is an increase of 73% compared to the previous 30 days.
MarketBeat Follows
10 people have added Bitfarms to their MarketBeat watchlist in the last 30 days. This is an increase of 150% 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 15.31% of the stock of Bitfarms is held by institutions.

0.0

Earnings and Valuation

Earnings Growth
Earnings for Bitfarms are expected to decrease in the coming year, from ($0.21) to ($0.22) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Bitfarms is -6.73, 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 -6.73, 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 1.50. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

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. Bitfarms Ltd. 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

December 4, 2023 | americanbankingnews.com

Head to Head Analysis: Bitfarms (NASDAQ:BITF) & NU (NYSE:NU)

December 4, 2023 | americanbankingnews.com

Contrasting Bitfarms (NASDAQ:BITF) & Security National Financial (NASDAQ:SNFCA)

December 4, 2023 | DTI Trader (Ad)

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December 3, 2023 | americanbankingnews.com

Bitfarms Ltd. (NASDAQ:BITF) Short Interest Update

December 2, 2023 | americanbankingnews.com

HC Wainwright Weighs in on Bitfarms Ltd.'s FY2024 Earnings (NASDAQ:BITF)

December 1, 2023 | marketwatch.com

Bitfarms Shares Jump as Company Prepares for Bitcoin Halving

December 1, 2023 | msn.com

Bitfarms earns 392 BTC in November, down 1.5% from October

December 1, 2023 | finance.yahoo.com

Bitfarms Earns 392 BTC in November 2023

December 4, 2023 | DTI Trader (Ad)

All the trading advice you’ve ever received boils down to this

November 30, 2023 | americanbankingnews.com

Bitfarms (NASDAQ:BITF) Price Target Increased to $4.00 by Analysts at HC Wainwright

November 30, 2023 | americanbankingnews.com

Bitfarms' (BITF) Overweight Rating Reaffirmed at Cantor Fitzgerald

November 29, 2023 | markets.businessinsider.com

Where Bitfarms Stands With Analysts

November 29, 2023 | americanbankingnews.com

Argo Blockchain (OTCMKTS:ARBKF) versus Bitfarms (NASDAQ:BITF) Critical Survey

November 28, 2023 | finanznachrichten.de

Bitfarms Ltd.: Bitfarms Initiates Transformative Fleet Upgrade that Supports 17 EH/s and 391 MW in 2024

November 28, 2023 | markets.businessinsider.com

Bitfarms Stock Is Rising Tuesday: What's Going On?

November 25, 2023 | americanbankingnews.com

Bitfarms Sees Unusually Large Options Volume (NASDAQ:BITF)

November 22, 2023 | theglobeandmail.com

Bitfarms: Top 10 Undervalued Capital Markets Industry Stocks (BITF)

November 8, 2023 | markets.businessinsider.com

What 5 Analyst Ratings Have To Say About Bitfarms

November 7, 2023 | seekingalpha.com

Bitfarms Ltd. 2023 Q3 - Results - Earnings Call Presentation

November 7, 2023 | msn.com

Bitfarms GAAP EPS of -$0.07 misses by $0.02, revenue of $35M beats by $0.64M

November 7, 2023 | finance.yahoo.com

Bitfarms Reports Third Quarter 2023 Results

November 6, 2023 | msn.com

Wall Street holds steadier and drifts after last week's big swings

November 6, 2023 | msn.com

Bitfarms Q3 Earnings Preview

October 31, 2023 | thestreet.com

How one of the first publicly-traded bitcoin miners is sustaining success

October 19, 2023 | finance.yahoo.com

Why the Market Dipped But Bitfarms Ltd. (BITF) Gained Today

October 6, 2023 | seekingalpha.com

Bitfarms: Strategic Decisions Deliver The Most Efficient Bitcoin Mining Operation

October 3, 2023 | msn.com

The 3 Top-Performing TSX Stocks of 2023 So Far: Can They Keep Gaining?

See More Headlines

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Company Calendar

Last Earnings: 11/06/2023
Today: 12/04/2023
Fiscal Year End: 12/31/2023
Next Earnings (Estimated): 3/19/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Nondepository credit institutions
Sub-Industry: N/A
Sector: Business Services
Current Symbol: NASDAQ:BITF
CUSIP: N/A
CIK: 1812477
Web: www.bitfarms.com
Phone: 64-7259-1790
Fax: N/A
Employees: 150
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $3.67
High Stock Price Target: $5.00
Low Stock Price Target: $2.00
Potential Upside/Downside: +109.5%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 4 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.26)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: N/A
Net Margins: -49.48%
Pretax Margin: -49.35%
Return on Equity: -19.17%
Return on Assets: -15.65%

Debt

Debt-to-Equity Ratio: 0.05
Current Ratio: 2.82
Quick Ratio: 2.82

Sales & Book Value

Annual Sales: $142.43 million
Price / Sales: 3.96
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $1.17 per share
Price / Book: 1.50

Miscellaneous

Outstanding Shares: 322,130,000
Free Float: 291,527,000
Market Cap: $563.73 million
Optionable: Not Optionable
Beta: 3.34

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Key Executives

Mr. Nicolas Bonta (Age 48)
Founder & Chairman
Comp: $1.63M
Mr. L. Geoffrey Morphy
President, CEO & Director
Mr. Emiliano Joel Grodzki (Age 47)
Founder & Director
Comp: $1.63M
Mr. Jeffrey P. Lucas (Age 63)
Chief Financial Officer
Comp: $552.47k
Mr. Benjamin Gagnon
Chief Mining Officer
Mr. Marc-Andre Ammann
Vice President Finance & Accounting
Ms. Sonia Tercas
Director of Investor Relations
Ms. Stephanie Wargo
Vice President of Marketing & Communications
Mr. Philippe Fortier
Vice President of Corporate Development
Ms. Andrea Keen Souza
Vice-President of Human Resources

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 analysts have issued "buy," "hold," and "sell" ratings for Bitfarms in the last twelve months. There are currently 4 buy ratings for the stock. The consensus among Wall Street 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 analysts have issued 1 year price targets for Bitfarms' stock. Their BITF share price targets range from $2.00 to $5.00. On average, they anticipate the company's share price to reach $3.67 in the next year. This suggests a possible upside of 109.5% 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 2023?: Bitfarms' stock was trading at $0.44 at the start of the year. Since then, BITF stock has increased by 297.7% and is now trading at $1.75.
View the best growth stocks for 2023 here.
Are investors shorting Bitfarms?: Bitfarms saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 12,090,000 shares, an increase of 24.5% from the October 31st total of 9,710,000 shares. Based on an average daily volume of 7,550,000 shares, the short-interest ratio is currently 1.6 days. Approximately 5.4% of the company's stock are short sold.
View Bitfarms' Short Interest.
When is Bitfarms' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, March 19th 2024.
View our BITF earnings forecast.

How were Bitfarms' earnings last quarter?: Bitfarms Ltd. (NASDAQ:BITF) issued its quarterly earnings results on Monday, November, 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by $0.04. The company earned $34.60 million during the quarter, compared to analysts' expectations of $37.15 million. Bitfarms had a negative net margin of 49.48% and a negative trailing twelve-month return on equity of 19.17%.
What ETF holds Bitfarms' stock ?: iShares Blockchain and Tech ETF holds 102,855 shares of BITF stock, representing 2.03% of its portfolio.
Who are Bitfarms' major shareholders?: Bitfarms' stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Invesco Ltd. (4.54%), Toroso Investments LLC (1.83%), Van ECK Associates Corp (1.63%), Mirae Asset Global Investments Co. Ltd. (1.12%), Quadrature Capital Ltd (0.47%) and American Century Companies Inc. (0.37%).
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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NASDAQ:BITF) was last updated on 12/4/2023 by MarketBeat.com Staff

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