8 Best Small-Cap Stocks Ready to Explode According to Analysts

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1. Bitfarms Ltd. (NASDAQ:BITF)

Upside Potential as of May 21st: 133.79%

Market Cap: $689.4 million

Founded in 2017, Bitfarms Ltd. (NASDAQ:BITF) is a global Bitcoin mining company, running vertically integrated mining operations with onsite technical repair, proprietary data analytics, and company-owned electrical engineering and installation services to deliver high operational performance and uptime.

Shares of Bitfarms Ltd. (NASDAQ:BITF) were held by 10 hedge funds at the end of Q4 2023, with a collective stake value of around $38.29 million. The largest stake of over 4.7 million shares was held by Millennium Management, valued at $10.64 million.

Bitfarms reported a revenue of $50 million in Q1 2024, up 9% QoQ and 67% YoY. The Toronto-based company also secured an additional 24,000 miners in March, increasing total delivery to 88,000 in 2024. The analysts have maintained a Strong Buy position on BITF with an upside potential of 133.79%. The stock has also gained over 88% in the past year, as of the close of May 24th, making it the Best Small-Cap Stock to Buy in our list.

If you are looking for an AI stock that is as promising as Microsoft but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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