We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bitfarms Ltd. (BITF) Advances While Market Declines: Some Information for Investors
Read MoreHide Full Article
In the latest trading session, Bitfarms Ltd. (BITF - Free Report) closed at $1.42, marking a +1.43% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.01% for the day. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, added 0.41%.
The the stock of company has fallen by 14.63% in the past month, lagging the Business Services sector's gain of 15.7% and the S&P 500's gain of 4.88%.
Market participants will be closely following the financial results of Bitfarms Ltd. in its upcoming release. The company is forecasted to report an EPS of -$0.04, showcasing a 33.33% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $55.02 million, up 18.98% from the year-ago period.
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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 8.33% lower. Bitfarms Ltd. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bitfarms Ltd. (BITF) Advances While Market Declines: Some Information for Investors
In the latest trading session, Bitfarms Ltd. (BITF - Free Report) closed at $1.42, marking a +1.43% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.01% for the day. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, added 0.41%.
The the stock of company has fallen by 14.63% in the past month, lagging the Business Services sector's gain of 15.7% and the S&P 500's gain of 4.88%.
Market participants will be closely following the financial results of Bitfarms Ltd. in its upcoming release. The company is forecasted to report an EPS of -$0.04, showcasing a 33.33% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $55.02 million, up 18.98% from the year-ago period.
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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 8.33% lower. Bitfarms Ltd. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.