First-quarter revenue is forecast at $28.9 million, which would be up nearly 6.9% sequentially but down 28.3% year over year. Bitfarms is expected to post adjusted EPS of $0.2, up from flat sequentially and up from EPS of $0.01 in the year-ago quarter. For the full 2023 fiscal year, the company is expected to report EPS of $0.15 on revenue of $129.3 million, down 9.2%.
The stock trades at 7.4 times expected 2023 EPS and 111.6 times estimated 2024 earnings of $0.01 per share. Its 52-week trading range is $0.38 to $2.33. Bitfarms does not pay a dividend. Total shareholder return for the past year is negative 46.89%.
Workhorse
Workhorse Group Inc. (NASDAQ: WKHS) has experienced some big highs and one big low since posting an all-time low in late 2018. Shares were trading at an all-time high just two years later as Workhorse appeared to have the inside track to winning a huge contract to provide delivery vehicles to the U.S. Postal Service. The contract went to Oshkosh instead, and Workhorse stock plunged from around $43.00 to its current level of around $1.00.
Workhorse has just launched a new electric delivery van, and regular production is expected to begin in the third quarter. The shares are among the most speculative out there, but then, high risk, high potential reward.
Of seven analysts covering the stock, four have a Hold rating and the other three rate the shares at Buy. At a price of around $1.00 a share, the upside potential based on a median price target of $3.00 is 200%. At the high price target of $6.00, the upside potential is 500%.
First-quarter revenue is forecast at $9.85 million, up 185.8% sequentially and up from $10 million in the year-ago quarter. Analysts expect Workhorse to post an adjusted loss per share for the quarter of $0.18, better than the $0.24 per-share loss in the prior quarter but worse than the loss per share of $0.15 a year ago. For the full year, the adjusted loss is forecast at $0.58 per share, better than the year-ago loss of $0.74 on sales of $89.24 million, up from just $5.02 million in 2022.
Workhorse is not expected to post a profit until 2025. The stock trades at an enterprise value-to-sales multiple of 0.9 for 2023. For 2024 and 2025, the multiple is 0.3 and 0.2, respectively. The stock’s 52-week range is $0.87 to $4.73, and Workhorse does not pay a dividend. Total shareholder return for the past year is negative 62.97%.
Originally published at 24/7 Wall St.
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