Bitfarms (NASDAQ:BITF – Get Free Report) is expected to be posting its quarterly earnings results before the market opens on Thursday, March 6th. Analysts expect Bitfarms to post earnings of ($0.04) per share and revenue of $54.22 million for the quarter.
Bitfarms Stock Down 5.2 %
Shares of Bitfarms stock opened at $1.10 on Tuesday. The business’s fifty day moving average price is $1.48 and its two-hundred day moving average price is $1.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.70 and a quick ratio of 3.68. The company has a market capitalization of $527.27 million, a P/E ratio of -3.06 and a beta of 3.64. Bitfarms has a 1-year low of $1.06 and a 1-year high of $3.28.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Stifel Canada raised Bitfarms from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 22nd. Keefe, Bruyette & Woods assumed coverage on Bitfarms in a research note on Wednesday, January 8th. They set an “outperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Bitfarms in a research note on Thursday, November 14th. Finally, Alliance Global Partners assumed coverage on Bitfarms in a research note on Wednesday, December 4th. They set a “buy” rating and a $6.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4.05.
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.
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