NASDAQ:BITF

Bitfarms (BITF) Stock Forecast, Price & News

$1.09

+0.05 (+4.81%)

(As of 09/28/2023 ET)

Compare

Today's Range: $1.02
▼
$1.14
50-Day Range: $1.02
▼
$1.87
52-Week Range: $0.38
▼
$2.16

Volume: 6.20 million shs
Average Volume: 6.64 million shs
Market Capitalization: $239.12 million

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

Bitfarms MarketRank™ Forecast

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 236.4% Upside
$3.67 Price Target
Short Interest: Healthy
3.32% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.14
Based on 5 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: Decreasing
From ($0.17) to ($0.34) Per Share

Overall MarketRank^™

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

1.83 out of 5 stars

Business Services Sector

241st out of 322 stocks

Nondepository Credit Institutions Industry

31st out of 45 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 236.4% from its current price of $1.09.
Amount of Analyst Coverage
Bitfarms has only been the subject of 2 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
3.32% 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 0.8, 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 20.81%, 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.

1.7

News and Social Media Coverage

News Sentiment
Bitfarms has a news sentiment score of 0.14. 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 0.62 average news sentiment score of Business Services companies.
News Coverage This Week
MarketBeat has tracked 5 news articles for Bitfarms this week, compared to 1 article on an average week.
Search Interest
Only 7 people have searched for BITF on MarketBeat in the last 30 days. This is a decrease of -70% compared to the previous 30 days.
MarketBeat Follows
Only 7 people have added Bitfarms to their MarketBeat watchlist in the last 30 days. This is a decrease of -13% 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.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Bitfarms are expected to decrease in the coming year, from ($0.17) to ($0.34) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Bitfarms is -1.85, 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 -1.85, 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 0.93. 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 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 Price History

30 days | 90 days | 365 days | Advanced Chart

BITF Stock News Headlines

September 28, 2023 | markets.businessinsider.com

September 26, 2023 | americanbankingnews.com

Bitfarms (NASDAQ:BITF) Given "Overweight" Rating at Cantor Fitzgerald

September 28, 2023 | Chaikin Analytics (Ad)

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September 21, 2023 | americanbankingnews.com

Bitfarms' (BITF) Buy Rating Reaffirmed at HC Wainwright

September 13, 2023 | finance.yahoo.com

Bitfarms to Deliver Strategy and Vision at Analyst and Investor Day September 14th

September 13, 2023 | nasdaq.com

Bitfarms (TSX:BITF) Price Target Decreased by 65.83% to 3.49

September 5, 2023 | markets.businessinsider.com

Analyst Ratings for Bitfarms

August 23, 2023 | baystreet.ca

TSX Recovers with Vengeance

September 28, 2023 | Chaikin Analytics (Ad)

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August 11, 2023 | theglobeandmail.com

Closing Bell: Bitfarms Ltd up on Thursday (BITF)

August 8, 2023 | theglobeandmail.com

Closing Bell: Bitfarms Ltd down on Friday (BITF)

August 7, 2023 | seekingalpha.com

Bitcoin miner Bitfarms initiates deployment plan for 50 MW hydropower in Paraguay

August 7, 2023 | finance.yahoo.com

Bitfarms Initiates Deployment Plan for 50 MW of Hydropower in Paraguay

July 27, 2023 | finance.yahoo.com

Bitfarms to Report Second Quarter 2023 Financial Results on Tuesday, August 8, 2023

July 7, 2023 | markets.businessinsider.com

H.C. Wainwright Reaffirms Their Buy Rating on Bitfarms (BITF)

July 6, 2023 | finance.yahoo.com

Bitfarms Starts Production at Baie-Comeau and Increases Hashrate Target to 6.3 EH/s in Q3 2023

June 8, 2023 | finance.yahoo.com

Bitfarms to Participate in the 2023 Cantor Fitzgerald Technology Conference on June 14 - 15

June 7, 2023 | finanznachrichten.de

Bitfarms Ltd.: Bitfarms Improves Energy Efficiency with Purchase of 4,660 High Performance Miners

June 7, 2023 | msn.com

Bitfarms expands fleet with 4,660 new bitcoin miners

June 7, 2023 | finance.yahoo.com

Bitfarms Improves Energy Efficiency with Purchase of 4,660 High Performance Miners

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 24, 2023 | fool.com

Bitfarms (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 11, 2023 | msn.com

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

May 1, 2023 | finance.yahoo.com

Bitfarms Mines 379 BTC in April

See More Headlines

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BITF Company Calendar

Last Earnings: 8/08/2023
Today: 9/28/2023
Next Earnings (Estimated): 11/13/2023
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: 150
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $3.67
High Stock Price Forecast: $5.00
Low Stock Price Forecast: $3.00
Forecasted Upside/Downside: +236.4%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 4 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.59)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: N/A
Net Margins: -102.55%
Pretax Margin: -106.49%
Return on Equity: -19.26%
Return on Assets: -14.88%

Debt

Debt-to-Equity Ratio: 0.05
Current Ratio: 1.93
Quick Ratio: 1.93

Sales & Book Value

Annual Sales: $142.43 million
Price / Sales: 1.68
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $1.17 per share
Price / Book: 0.93

Miscellaneous

Outstanding Shares: 219,380,000
Free Float: 198,534,000
Market Cap: $239.12 million
Optionable: Not Optionable
Beta: 3.25

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Key Executives

Mr. Nicolas Bonta (Age 48)
Founder & Chairman
Comp: $1.63M

Mr. L. Geoffrey Morphy
Pres, 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
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?: 4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Bitfarms in the last year. There are currently 4 buy ratings for the stock. The consensus among Wall Street equities research 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?: 4 equities research analysts have issued 1-year price objectives for Bitfarms' stock. Their BITF share price forecasts range from $3.00 to $5.00. On average, they expect the company's stock price to reach $3.67 in the next year. This suggests a possible upside of 236.4% 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 beginning of the year. Since then, BITF shares have increased by 147.7% and is now trading at $1.09.
View the best growth stocks for 2023 here.
Are investors shorting Bitfarms?: Bitfarms saw a increase in short interest in September. As of September 15th, there was short interest totaling 7,490,000 shares, an increase of 20.8% from the August 31st total of 6,200,000 shares. Based on an average daily trading volume, of 9,960,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 3.3% of the company's stock are sold short.
View Bitfarms' Short Interest.
When is Bitfarms' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Monday, November 13th 2023.
View our BITF earnings forecast.
How were Bitfarms' earnings last quarter?: Bitfarms Ltd. (NASDAQ:BITF) posted its quarterly earnings results on Tuesday, August, 8th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.02. The firm had revenue of $35.48 million for the quarter, compared to analyst estimates of $34.05 million. Bitfarms had a negative net margin of 102.55% and a negative trailing twelve-month return on equity of 19.26%.

What ETF holds Bitfarms' stock ?: iShares Blockchain and Tech ETF holds 102,855 shares of BITF stock, representing 2.03% 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 a number of institutional and retail investors. Top institutional investors include State Street Corp (1.93%), Van ECK Associates Corp (1.38%), Mirae Asset Global Investments Co. Ltd. (1.15%), Renaissance Technologies LLC (0.72%), Geode Capital Management LLC (0.46%) and Cetera Advisors LLC (0.33%).
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 $1.09.
How much money does Bitfarms make?: Bitfarms (NASDAQ:BITF) has a market capitalization of $239.12 million and generates $142.43 million in revenue each year.
How many employees does Bitfarms have?: The company employs 150 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 9/28/2023 by MarketBeat.com Staff

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