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Bitfarms Ltd. (BITF) Gains As Market Dips: What You Should Know
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Bitfarms Ltd. (BITF - Free Report) closed the most recent trading day at $2.33, moving +0.87% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.61%. Meanwhile, the Dow experienced a drop of 0.82%, and the technology-dominated Nasdaq saw a decrease of 2.23%.
Heading into today, shares of the company had lost 18.66% over the past month, lagging the Business Services sector's gain of 1.82% and the S&P 500's gain of 3.28% in that time.
The upcoming earnings release of Bitfarms Ltd. will be of great interest to investors. It is anticipated that the company will report an EPS of -$0.04, marking a 42.86% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $38.82 million, up 43.58% from the year-ago period.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Bitfarms Ltd. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BITF in the coming trading sessions, be sure to utilize Zacks.com.
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Bitfarms Ltd. (BITF) Gains As Market Dips: What You Should Know
Bitfarms Ltd. (BITF - Free Report) closed the most recent trading day at $2.33, moving +0.87% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.61%. Meanwhile, the Dow experienced a drop of 0.82%, and the technology-dominated Nasdaq saw a decrease of 2.23%.
Heading into today, shares of the company had lost 18.66% over the past month, lagging the Business Services sector's gain of 1.82% and the S&P 500's gain of 3.28% in that time.
The upcoming earnings release of Bitfarms Ltd. will be of great interest to investors. It is anticipated that the company will report an EPS of -$0.04, marking a 42.86% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $38.82 million, up 43.58% from the year-ago period.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Bitfarms Ltd. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BITF in the coming trading sessions, be sure to utilize Zacks.com.