Bitfarms (BITF) Scheduled to Post Quarterly Earnings on Monday

Bitfarms (NASDAQ:BITF) is set to issue its quarterly earnings data before the market opens on Monday, May 13th. Analysts expect the company to announce earnings of ($0.03) per share for the quarter.

Bitfarms (NASDAQ:BITF) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Bitfarms had a negative return on equity of 19.58% and a negative net margin of 70.53%. The business had revenue of $46.24 million for the quarter, compared to the consensus estimate of $39.68 million. During the same period last year, the business posted ($0.07) EPS. On average, analysts expect Bitfarms to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bitfarms Price Performance

Shares of NASDAQ:BITF opened at $1.88 on Monday. Bitfarms has a 12-month low of $0.92 and a 12-month high of $3.91. The business’s fifty day simple moving average is $2.24 and its 200-day simple moving average is $2.19. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.04.

Analyst Upgrades and Downgrades

BITF has been the topic of a number of analyst reports. Northland Securities initiated coverage on Bitfarms in a report on Thursday, April 25th. They issued an “outperform” rating and a $4.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $4.00 target price on shares of Bitfarms in a research note on Thursday, March 28th. Finally, HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Bitfarms in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Bitfarms has a consensus rating of “Buy” and an average target price of $4.20.

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.