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Bitfarms Ltd. (BITF) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest close session, Bitfarms Ltd. (BITF - Free Report) was down 1.87% at $2.10. This change lagged the S&P 500's 0.1% gain on the day. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq increased by 0.14%.
Coming into today, shares of the company had lost 27.46% in the past month. In that same time, the Business Services sector lost 7.85%, while the S&P 500 lost 1.43%.
Investors will be eagerly watching for the performance of Bitfarms Ltd. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.05, marking a 266.67% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $64.38 million, up 14.63% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.28 per share and a revenue of $278.28 million, signifying shifts of -100% and +44.27%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Bitfarms Ltd. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 remained stagnant. Bitfarms Ltd. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 145, finds itself in the bottom 41% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Bitfarms Ltd. (BITF) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest close session, Bitfarms Ltd. (BITF - Free Report) was down 1.87% at $2.10. This change lagged the S&P 500's 0.1% gain on the day. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq increased by 0.14%.
Coming into today, shares of the company had lost 27.46% in the past month. In that same time, the Business Services sector lost 7.85%, while the S&P 500 lost 1.43%.
Investors will be eagerly watching for the performance of Bitfarms Ltd. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.05, marking a 266.67% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $64.38 million, up 14.63% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.28 per share and a revenue of $278.28 million, signifying shifts of -100% and +44.27%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Bitfarms Ltd. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 remained stagnant. Bitfarms Ltd. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 145, finds itself in the bottom 41% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.