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Bitfarms Ltd. (BITF) Stock Dips While Market Gains: Key Facts
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The latest trading session saw Bitfarms Ltd. (BITF - Free Report) ending at $1.99, denoting a -1% adjustment from its last day's close. This change lagged the S&P 500's 1.07% gain on the day. Meanwhile, the Dow experienced a rise of 0.31%, and the technology-dominated Nasdaq saw an increase of 2.17%.
Shares of the company have depreciated by 11.84% over the course of the past month, underperforming the Business Services sector's gain of 5.24% and the S&P 500's gain of 2.92%.
Market participants will be closely following the financial results of Bitfarms Ltd. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.11, reflecting a 57.14% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $55.48 million, reflecting a 60.35% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.29 per share and a revenue of $226.81 million, representing changes of -38.1% and +54.96%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bitfarms Ltd. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.44% higher. Bitfarms Ltd. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 70, this industry ranks in the top 28% of all industries, numbering over 250.
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.
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) Stock Dips While Market Gains: Key Facts
The latest trading session saw Bitfarms Ltd. (BITF - Free Report) ending at $1.99, denoting a -1% adjustment from its last day's close. This change lagged the S&P 500's 1.07% gain on the day. Meanwhile, the Dow experienced a rise of 0.31%, and the technology-dominated Nasdaq saw an increase of 2.17%.
Shares of the company have depreciated by 11.84% over the course of the past month, underperforming the Business Services sector's gain of 5.24% and the S&P 500's gain of 2.92%.
Market participants will be closely following the financial results of Bitfarms Ltd. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.11, reflecting a 57.14% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $55.48 million, reflecting a 60.35% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.29 per share and a revenue of $226.81 million, representing changes of -38.1% and +54.96%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bitfarms Ltd. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.44% higher. Bitfarms Ltd. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 70, this industry ranks in the top 28% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.