Bitfarms (BITF) Set to Announce Earnings on Tuesday

by · The Markets Daily

Bitfarms (NASDAQ:BITF – Get Free Report) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, November 12th. Analysts expect the company to announce earnings of ($0.12) per share for the quarter.

Bitfarms (NASDAQ:BITF – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $41.55 million for the quarter, compared to analysts’ expectations of $44.59 million. Bitfarms had a negative return on equity of 18.94% and a negative net margin of 62.79%. On average, analysts expect Bitfarms to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bitfarms Trading Up 4.0 %

BITF stock traded up $0.07 during trading hours on Tuesday, reaching $1.80. The stock had a trading volume of 12,913,661 shares, compared to its average volume of 22,314,961. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.09 and a current ratio of 5.11. The stock has a 50-day simple moving average of $2.01 and a 200 day simple moving average of $2.22. Bitfarms has a fifty-two week low of $1.01 and a fifty-two week high of $3.91.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BITF shares. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price target on shares of Bitfarms in a research report on Thursday, October 3rd. HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Bitfarms in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.66.

View Our Latest Stock Analysis on Bitfarms

About Bitfarms

(Get Free Report)

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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