Company Performance - Bitfarms Ltd. closed at $4.54, down 1.52% from the previous session, underperforming the S&P 500's gain of 1.23% [1] - Prior to this trading day, Bitfarms shares had increased by 81.5%, significantly outperforming the Business Services sector, which saw a loss of 5.43%, and the S&P 500's gain of 2.45% [1] Upcoming Earnings - The upcoming EPS for Bitfarms is projected at -$0.02, reflecting a 77.78% increase compared to the same quarter last year [2] - Revenue is expected to be $83.11 million, indicating an 85.31% growth year-over-year [2] Fiscal Year Estimates - For the entire fiscal year, earnings are estimated at -$0.15 per share, a decrease of 7.14% from the previous year, while revenue is projected at $314.54 million, representing a growth of 63.07% [3] - Recent changes in analyst estimates indicate a dynamic business trend, with positive revisions suggesting analyst optimism about profitability [3] Analyst Ratings - The Zacks Rank system, which assesses estimate changes, currently rates Bitfarms at 4 (Sell), with a recent decline of 16.67% in the EPS estimate over the past month [5] - The Zacks Rank has a historical track record of outperforming, with stocks rated 1 yielding an average annual return of +25% since 1988 [5] Industry Context - Bitfarms operates within the Technology Services industry, which is part of the Business Services sector, currently holding a Zacks Industry Rank of 68, placing it in the top 28% of over 250 industries [6] - The Zacks Industry Rank measures the strength of industry groups based on the average Zacks Rank of individual stocks, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [6]
Bitfarms Ltd. (BITF) Stock Declines While Market Improves: Some Information for Investors