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Bitfarms Ltd. (BITF) Dips More Than Broader Markets: What You Should Know
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Bitfarms Ltd. (BITF - Free Report) closed at $1.07 in the latest trading session, marking a -1.83% move from the prior day. This move lagged the S&P 500's daily loss of 0.27%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq added 0.14%.
Prior to today's trading, shares of the company had lost 19.85% over the past month. This has lagged the Business Services sector's loss of 3.36% and the S&P 500's loss of 2.86% in that time.
Wall Street will be looking for positivity from Bitfarms Ltd. as it approaches its next earnings report date. In that report, analysts expect Bitfarms Ltd. to post earnings of -$0.03 per share. This would mark year-over-year growth of 62.5%. Meanwhile, our latest consensus estimate is calling for revenue of $37.15 million, up 11.73% from the prior-year quarter.
BITF's full-year Zacks Consensus Estimates are calling for earnings of -$0.17 per share and revenue of $140.95 million. These results would represent year-over-year changes of +85.22% and -1.04%, respectively.
Investors should also note any recent changes to analyst estimates for Bitfarms Ltd.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Bitfarms Ltd. is currently sporting a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Bitfarms Ltd. (BITF) Dips More Than Broader Markets: What You Should Know
Bitfarms Ltd. (BITF - Free Report) closed at $1.07 in the latest trading session, marking a -1.83% move from the prior day. This move lagged the S&P 500's daily loss of 0.27%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq added 0.14%.
Prior to today's trading, shares of the company had lost 19.85% over the past month. This has lagged the Business Services sector's loss of 3.36% and the S&P 500's loss of 2.86% in that time.
Wall Street will be looking for positivity from Bitfarms Ltd. as it approaches its next earnings report date. In that report, analysts expect Bitfarms Ltd. to post earnings of -$0.03 per share. This would mark year-over-year growth of 62.5%. Meanwhile, our latest consensus estimate is calling for revenue of $37.15 million, up 11.73% from the prior-year quarter.
BITF's full-year Zacks Consensus Estimates are calling for earnings of -$0.17 per share and revenue of $140.95 million. These results would represent year-over-year changes of +85.22% and -1.04%, respectively.
Investors should also note any recent changes to analyst estimates for Bitfarms Ltd.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Bitfarms Ltd. is currently sporting a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.