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Bitfarms Ltd. (BITF) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Bitfarms Ltd. (BITF - Free Report) closed at $1.13, marking a -1.74% move from the previous day. This change lagged the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Heading into today, shares of the company had lost 9.45% over the past month, lagging the Business Services sector's loss of 4.95% and the S&P 500's gain of 2.08% in that time.
Investors will be hoping for strength from Bitfarms Ltd. as it approaches its next earnings release. In that report, analysts expect Bitfarms Ltd. to post earnings of -$0.03 per share. This would mark year-over-year growth of 62.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $37.15 million, up 11.73% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $140.95 million. These totals would mark changes of +85.22% and -1.04%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Bitfarms Ltd.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 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 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow BITF in the coming trading sessions, be sure to utilize Zacks.com.
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Bitfarms Ltd. (BITF) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Bitfarms Ltd. (BITF - Free Report) closed at $1.13, marking a -1.74% move from the previous day. This change lagged the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Heading into today, shares of the company had lost 9.45% over the past month, lagging the Business Services sector's loss of 4.95% and the S&P 500's gain of 2.08% in that time.
Investors will be hoping for strength from Bitfarms Ltd. as it approaches its next earnings release. In that report, analysts expect Bitfarms Ltd. to post earnings of -$0.03 per share. This would mark year-over-year growth of 62.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $37.15 million, up 11.73% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $140.95 million. These totals would mark changes of +85.22% and -1.04%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Bitfarms Ltd.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 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 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow BITF in the coming trading sessions, be sure to utilize Zacks.com.