Bitfarms (BITF) Set to Announce Quarterly Earnings on Tuesday

Bitfarms (NASDAQ:BITF) is scheduled to be releasing its earnings data before the market opens on Tuesday, November 12th. Analysts expect Bitfarms to post earnings of ($0.12) per share for the quarter.

Bitfarms (NASDAQ:BITF) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $41.55 million for the quarter, compared to the consensus estimate of $44.59 million. Bitfarms had a negative net margin of 62.79% and a negative return on equity of 18.94%. On average, analysts expect Bitfarms to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bitfarms Stock Down 0.4 %

Shares of NASDAQ BITF opened at $2.24 on Friday. The company has a current ratio of 5.11, a quick ratio of 5.09 and a debt-to-equity ratio of 0.03. Bitfarms has a 12-month low of $1.01 and a 12-month high of $3.91. The firm’s 50-day moving average price is $2.00 and its 200-day moving average price is $2.22. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -6.40 and a beta of 3.64.

Wall Street Analyst Weigh In

BITF has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 target price on shares of Bitfarms in a research report on Thursday, October 3rd. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Bitfarms in a report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.66.

Bitfarms Company Profile

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.