Bitfarms Shares Drop 8.1% to $2.04 Despite 30.2% Monthly Gain
Bitfarms Ltd. shares fell 8.11% to $2.04 today after lagging the S&P 500 despite a 30.2% one-month gain versus the sector’s 1.64% rise. Q1 EPS is projected at -$0.04, revenue at $59.6 million, and Zacks Rank stands at #4 as consensus EPS estimates dropped 65%.
1. Price Plunge to $2.04
Bitfarms shares closed at $2.04, down 8.11% from the prior session, underperforming the S&P 500’s 1.33% decline, the Dow’s 0.95% drop and the Nasdaq’s 1.59% loss.
2. Strong One-Month Rally
Over the past month, Bitfarms stock rallied 30.2%, outpacing the Business Services sector’s 1.64% gain and the S&P 500’s 0.58% advance.
3. Q1 Earnings and Revenue Forecast
Analysts project Q1 EPS of -$0.04, a 233.33% year-over-year decline, and revenue of $59.63 million, a 6.17% increase from the same quarter last year.
4. Zacks Rank and Estimate Revisions
Consensus EPS estimates for Bitfarms fell 65.15% over the last 30 days, resulting in a Zacks Rank of #4 (Sell) as analysts lower near-term profit expectations.