NASDAQ:BITF

Bitfarms (BITF) Stock Forecast, Price & News

$1.10

+0.03 (+2.80%)

(As of 05/26/2023 04:00 PM ET)

Compare

Today's Range: $1.06
▼
$1.13
50-Day Range: $0.90
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$1.25
52-Week Range: $0.38
▼
$2.33

Volume: 1.81 million shs
Average Volume: 4.70 million shs
Market Capitalization: $240.10 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $2.00

Bitfarms MarketRank™ Forecast

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 81.8% Upside
$2.00 Price Target
Short Interest: Healthy
2.63% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.90
Based on 6 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: N/A

Overall MarketRank^™

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

2.16 out of 5 stars

Business Services Sector

189th out of 346 stocks

Nondepository Credit Institutions Industry

22nd out of 42 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 3 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $2.00, Bitfarms has a forecasted upside of 81.8% from its current price of $1.10.
Amount of Analyst Coverage
Bitfarms has only been the subject of 2 research reports in the past 90 days.

5.0

Short Interest

Percentage of Shares Shorted
2.63% 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 1.4, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Bitfarms has recently decreased by 22.92%, indicating that investor sentiment is improving 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.

2.7

News and Social Media Coverage

News Sentiment
Bitfarms has a news sentiment score of 0.90. 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 higher news sentiment than the 0.60 average news sentiment score of Business Services companies.
News Coverage This Week
MarketBeat has tracked 6 news articles for Bitfarms this week, compared to 2 articles on an average week.
Search Interest
Only 12 people have searched for BITF on MarketBeat in the last 30 days. This is a decrease of -45% compared to the previous 30 days.
MarketBeat Follows
Only 5 people have added Bitfarms to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% 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 14.41% of the stock of Bitfarms is held by institutions.

0.6

Earnings and Valuation

Price to Earnings Ratio vs. the Market
The P/E ratio of Bitfarms is -0.92, 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 -0.92, 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 0.94. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Bitfarms (NASDAQ:BITF) Stock

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in North America. 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 headquartered in Toronto, Canada.

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BITF Stock News Headlines

May 28, 2023 | finance.yahoo.com

Investing in Bitfarms (TSE:BITF) three years ago would have delivered you a 217% gain

May 25, 2023 | finanznachrichten.de

Bitfarms Ltd.: Bitfarms Announces Results of Annual General and Special Meeting of Shareholders

May 29, 2023 | Behind the Markets (Ad)

66,000% upside on tiny biotech?

The Wall Street Journal reports that this medical breakthrough is "Transforming Medicine." One analyst calculated that it could be worth $1 Trillion, making the upside potential of this small-cap 66,000% above today's price.

May 24, 2023 | fool.com

Bitfarms (NASDAQ: BITF)

May 21, 2023 | americanbankingnews.com

Bitfarms (NASDAQ:BITF) vs. Upstart (NASDAQ:UPST) Head to Head Contrast

May 20, 2023 | americanbankingnews.com

HC Wainwright Comments on Bitfarms Ltd.'s Q2 2023 Earnings (NASDAQ:BITF)

May 19, 2023 | markets.businessinsider.com

What 4 Analyst Ratings Have To Say About Bitfarms

May 19, 2023 | msn.com

Bitfarms snags Overweight rating at Cantor on growth prospects

May 29, 2023 | Behind the Markets (Ad)

Laser breakthrough could send stock soaring 2,467%

Laser breakthrough could send stock soaring 2,476% Whenever the military develops a breakthrough technology, timely investors could see groundbreaking returns. General Dynamics returned 8,990%... Boeing soared 4,238%... L3Harris shot up 1,628%...

May 19, 2023 | americanbankingnews.com

Bitfarms (NASDAQ:BITF) Research Coverage Started at Cantor Fitzgerald

May 16, 2023 | americanbankingnews.com

Hut 8 Mining (NASDAQ:HUT) & Bitfarms (NASDAQ:BITF) Critical Comparison

May 14, 2023 | americanbankingnews.com

Bitfarms (BITF) to Release Quarterly Earnings on Monday

May 12, 2023 | americanbankingnews.com

Critical Survey: Bitfarms (NASDAQ:BITF) versus Applied Digital (OTCMKTS:APLD)

May 11, 2023 | msn.com

Bitfarms (TSX:BITF) Price Target Decreased by 80.00% to 2.04

May 1, 2023 | finance.yahoo.com

Bitfarms Regains Compliance with Nasdaq Continued Listing Requirements

May 1, 2023 | finance.yahoo.com

Bitfarms Mines 379 BTC in April

April 18, 2023 | americanbankingnews.com

Analyzing Bit Digital (NASDAQ:BTBT) & Bitfarms (NASDAQ:BITF)

April 12, 2023 | finance.yahoo.com

Bitfarms to Participate in the Ladenburg Thalmann Technology Expo 2023

April 8, 2023 | americanbankingnews.com

Comparing Locafy (NASDAQ:LCFY) and Bitfarms (NASDAQ:BITF)

April 7, 2023 | americanbankingnews.com

Bitfarms (NASDAQ:BITF) Now Covered by Stifel Nicolaus

March 28, 2023 | americanbankingnews.com

HC Wainwright Research Analysts Lift Earnings Estimates for Bitfarms Ltd. (NASDAQ:BITF)

March 26, 2023 | americanbankingnews.com

HC Wainwright Cuts Bitfarms (NASDAQ:BITF) Price Target to $2.00

March 26, 2023 | americanbankingnews.com

Comparing PubMatic (NASDAQ:PUBM) and Bitfarms (NASDAQ:BITF)

March 24, 2023 | americanbankingnews.com

Bitfarms Ltd. Expected to Post Q1 2023 Earnings of ($0.07) Per Share (NASDAQ:BITF)

March 21, 2023 | finance.yahoo.com

Bitfarms Reports Fourth Quarter and Full Year 2022 Results

February 9, 2023 | financialpost.com

Bitfarms Pays Off $21M Debt Obligations for $7.75M in Cash

February 1, 2023 | finance.yahoo.com

Bitfarms Mines 486 Bitcoin in January

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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BITF Company Calendar

Today: 5/29/2023
Next Earnings (Estimated): 8/21/2023
Fiscal Year End: 12/31/2023

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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: 106
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $2.00
High Stock Price Forecast: $2.00
Low Stock Price Forecast: $2.00
Forecasted Upside/Downside: +81.8%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($1.19)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: N/A
Net Margins: -186.19%
Pretax Margin: -204.49%
Return on Equity: -15.91%
Return on Assets: -11.75%

Debt

Debt-to-Equity Ratio: 0.05
Current Ratio: 1.70
Quick Ratio: 1.70

Sales & Book Value

Annual Sales: $142.43 million
Price / Sales: 1.69
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $1.17 per share
Price / Book: 0.94

Miscellaneous

Outstanding Shares: 218,270,000
Free Float: 197,539,000
Market Cap: $240.10 million
Optionable: Not Optionable
Beta: 3.10

Key Executives

Mr. Nicolas Bonta (Age 47)
Founder & Exec. Chairman
Comp: $792.5k

Mr. Emiliano Joel Grodzki (Age 46)
Founder, CEO & Director
Comp: $792.5k

Mr. L. Geoffrey Morphy
Pres & COO

Mr. Jeffrey P. Lucas (Age 62)
Chief Financial Officer
Comp: $6.06M

Mr. Benjamin Gagnon
Chief Mining Officer

Mr. Marc-Andre Ammann
VP Fin. & Accounting

Ms. Sonia Tercas
Director of Investor Relations

Ms. Stephanie Wargo
VP of Marketing & Communications

Mr. Philippe Fortier
VP of Corp. Devel.

Ms. Andrea Keen Souza
Vice-Pres of HR

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

BITF Stock - Frequently Asked Questions

Should I buy or sell Bitfarms stock right now?: 3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Bitfarms in the last twelve months. There are currently 3 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 forecast for 2023?: 3 Wall Street analysts have issued 1 year target prices for Bitfarms' stock. Their BITF share price forecasts range from $2.00 to $2.00. On average, they expect the company's share price to reach $2.00 in the next year. This suggests a possible upside of 81.8% 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 on January 1st, 2023. Since then, BITF stock has increased by 150.0% and is now trading at $1.10.
View the best growth stocks for 2023 here.
Are investors shorting Bitfarms?: Bitfarms saw a decrease in short interest in May. As of May 15th, there was short interest totaling 5,920,000 shares, a decrease of 22.9% from the April 30th total of 7,680,000 shares. Based on an average daily trading volume, of 4,170,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 2.6% 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 Monday, August 21st 2023.
View our BITF earnings forecast.
What ETF holds Bitfarms' stock ?: iShares Blockchain and Tech ETF holds 122,295 shares of BITF stock, representing 1.97% of its portfolio.

What is Bitfarms' stock symbol?: Bitfarms trades on the NASDAQ under the ticker symbol "BITF."
Who are Bitfarms' major shareholders?: Bitfarms' stock is owned by many different retail and institutional investors. Top institutional investors include Mirae Asset Global Investments Co. Ltd. (1.33%), Van ECK Associates Corp (1.15%), Toroso Investments LLC (0.91%), State Street Corp (0.57%), Geode Capital Management LLC (0.44%) and American Century Companies Inc. (0.41%).
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.
What is Bitfarms' stock price today?: One share of BITF stock can currently be purchased for approximately $1.10.
How much money does Bitfarms make?: Bitfarms (NASDAQ:BITF) has a market capitalization of $240.10 million and generates $142.43 million in revenue each year.
How many employees does Bitfarms have?: The company employs 106 workers across the globe.
How can I contact Bitfarms?: The official website for the company is www.bitfarms.com. The company can be reached via phone at 64-7259-1790 or via email at investors@bitfarms.com.

This page (NASDAQ:BITF) was last updated on 5/29/2023 by MarketBeat.com Staff

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