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Bitfarms Ltd. (BITF) Flat As Market Gains: What You Should Know
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Bitfarms Ltd. (BITF - Free Report) closed the most recent trading day at $1.41, making no change from the previous trading session. This change lagged the S&P 500's 0.36% gain on the day. Meanwhile, the Dow lost 0.28%, and the Nasdaq, a tech-heavy index, added 0.51%.
Heading into today, shares of the company had lost 12.96% over the past month, lagging the Business Services sector's gain of 7.12% and the S&P 500's gain of 2.11% in that time.
Market participants will be closely following the financial results of Bitfarms Ltd. in its upcoming release. On that day, Bitfarms Ltd. is projected to report earnings of -$0.04 per share, which would represent year-over-year growth of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $57.02 million, up 23.3% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Bitfarms Ltd. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Within the past 30 days, our consensus EPS projection has moved 50% higher. Right now, Bitfarms Ltd. possesses a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 134, positioning it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Bitfarms Ltd. (BITF) Flat As Market Gains: What You Should Know
Bitfarms Ltd. (BITF - Free Report) closed the most recent trading day at $1.41, making no change from the previous trading session. This change lagged the S&P 500's 0.36% gain on the day. Meanwhile, the Dow lost 0.28%, and the Nasdaq, a tech-heavy index, added 0.51%.
Heading into today, shares of the company had lost 12.96% over the past month, lagging the Business Services sector's gain of 7.12% and the S&P 500's gain of 2.11% in that time.
Market participants will be closely following the financial results of Bitfarms Ltd. in its upcoming release. On that day, Bitfarms Ltd. is projected to report earnings of -$0.04 per share, which would represent year-over-year growth of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $57.02 million, up 23.3% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Bitfarms Ltd. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Within the past 30 days, our consensus EPS projection has moved 50% higher. Right now, Bitfarms Ltd. possesses a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 134, positioning it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.