What is B. Riley’s Estimate for Bitfarms FY2024 Earnings?

Bitfarms Ltd. (NASDAQ:BITF) – Investment analysts at B. Riley decreased their FY2024 EPS estimates for Bitfarms in a research note issued to investors on Wednesday, February 12th. B. Riley analyst N. Giles now expects that the company will post earnings per share of ($0.22) for the year, down from their previous estimate of ($0.21). The consensus estimate for Bitfarms’ current full-year earnings is ($0.21) per share. B. Riley also issued estimates for Bitfarms’ Q4 2024 earnings at ($0.05) EPS, FY2025 earnings at ($0.08) EPS and FY2026 earnings at ($0.06) EPS.

Other equities research analysts have also recently issued reports about the company. Alliance Global Partners started coverage on Bitfarms in a research note on Wednesday, December 4th. They issued a “buy” rating and a $6.00 target price on the stock. Stifel Canada raised shares of Bitfarms from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Bitfarms in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Bitfarms in a report on Wednesday, January 8th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.05.

Bitfarms Stock Performance

Bitfarms stock opened at $1.42 on Friday. Bitfarms has a twelve month low of $1.28 and a twelve month high of $3.91. The company has a quick ratio of 3.68, a current ratio of 3.70 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $643.16 million, a P/E ratio of -3.94 and a beta of 3.64. The stock’s 50 day moving average is $1.63 and its 200 day moving average is $1.94.

Institutional Trading of Bitfarms

A number of institutional investors have recently made changes to their positions in BITF. HighTower Advisors LLC bought a new position in Bitfarms during the third quarter valued at approximately $25,000. Money Concepts Capital Corp bought a new position in shares of Bitfarms during the 4th quarter valued at $30,000. Guided Capital Wealth Management LLC purchased a new position in shares of Bitfarms in the 4th quarter worth $30,000. National Bank of Canada FI boosted its stake in shares of Bitfarms by 2,629.2% in the 4th quarter. National Bank of Canada FI now owns 20,633 shares of the company’s stock worth $31,000 after buying an additional 19,877 shares during the last quarter. Finally, Olympiad Research LP bought a new stake in shares of Bitfarms in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 20.59% of the company’s stock.

About Bitfarms

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.