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Bitfarms Ltd. (BITF) Stock Declines While Market Improves: Some Information for Investors
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Bitfarms Ltd. (BITF - Free Report) closed the most recent trading day at $4.54, moving -1.52% from the previous trading session. This move lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow experienced a rise of 0.72%, and the technology-dominated Nasdaq saw an increase of 1.86%.
Prior to today's trading, shares of the company had gained 81.5% outpaced the Business Services sector's loss of 5.43% and the S&P 500's gain of 2.45%.
Analysts and investors alike will be keeping a close eye on the performance of Bitfarms Ltd. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.02, signifying a 77.78% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $83.11 million, indicating a 85.31% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.15 per share and a revenue of $314.54 million, indicating changes of -7.14% and +63.07%, respectively, from the former year.
Any recent changes to analyst estimates for Bitfarms Ltd. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate has moved 16.67% lower. Bitfarms Ltd. is currently sporting a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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) Stock Declines While Market Improves: Some Information for Investors
Bitfarms Ltd. (BITF - Free Report) closed the most recent trading day at $4.54, moving -1.52% from the previous trading session. This move lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow experienced a rise of 0.72%, and the technology-dominated Nasdaq saw an increase of 1.86%.
Prior to today's trading, shares of the company had gained 81.5% outpaced the Business Services sector's loss of 5.43% and the S&P 500's gain of 2.45%.
Analysts and investors alike will be keeping a close eye on the performance of Bitfarms Ltd. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.02, signifying a 77.78% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $83.11 million, indicating a 85.31% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.15 per share and a revenue of $314.54 million, indicating changes of -7.14% and +63.07%, respectively, from the former year.
Any recent changes to analyst estimates for Bitfarms Ltd. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate has moved 16.67% lower. Bitfarms Ltd. is currently sporting a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.