We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bitfarms Ltd. (BITF) Stock Slides as Market Rises: Facts to Know Before You Trade
Read MoreHide Full Article
Bitfarms Ltd. (BITF - Free Report) closed the most recent trading day at $2.16, moving -0.92% from the previous trading session. This change lagged the S&P 500's daily gain of 0.86%. On the other hand, the Dow registered a gain of 1.22%, and the technology-centric Nasdaq increased by 0.51%.
Shares of the company have depreciated by 38.42% over the course of the past month, underperforming the Business Services sector's loss of 0.74% and the S&P 500's gain of 2.84%.
Investors will be eagerly watching for the performance of Bitfarms Ltd. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.03, showcasing a 200% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $49.99 million, showing a 66.36% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.17 per share and a revenue of $256.17 million, signifying shifts of +19.05% and +75.02%, respectively, from the last year.
Investors might also notice 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 57.14% lower. Bitfarms Ltd. is holding a Zacks Rank of #4 (Sell) right now.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bitfarms Ltd. (BITF) Stock Slides as Market Rises: Facts to Know Before You Trade
Bitfarms Ltd. (BITF - Free Report) closed the most recent trading day at $2.16, moving -0.92% from the previous trading session. This change lagged the S&P 500's daily gain of 0.86%. On the other hand, the Dow registered a gain of 1.22%, and the technology-centric Nasdaq increased by 0.51%.
Shares of the company have depreciated by 38.42% over the course of the past month, underperforming the Business Services sector's loss of 0.74% and the S&P 500's gain of 2.84%.
Investors will be eagerly watching for the performance of Bitfarms Ltd. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.03, showcasing a 200% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $49.99 million, showing a 66.36% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.17 per share and a revenue of $256.17 million, signifying shifts of +19.05% and +75.02%, respectively, from the last year.
Investors might also notice 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 57.14% lower. Bitfarms Ltd. is holding a Zacks Rank of #4 (Sell) right now.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.