Market cap of Bitfarms Ltd. [BITF] reaches 545.26M – now what?

Bitfarms Ltd. [NASDAQ: BITF] stock went on a downward path that fall over -12.96% on Tuesday, amounting to a one-week price increase of more than 17.87%. The company report on July 15, 2021 that Bitfarms to Present at Sequire Blockchain Event on July 15th.

Bitfarms Ltd. (“Bitfarms”, or the “Company”) (NASDAQ: BITF // TSXV: BITF), a publicly traded Bitcoin mining company, currently powering an estimated 1.5% of the Bitcoin network with greater than 99% green hydroelectricity, announces that it will be presenting virtually at the upcoming Sequire Blockchain Conference on Thursday, July 15, at 4:00 PM ET. Ben Gagnon, Chief Mining Officer, will be delivering the corporate presentation.

Investors can register to watch the presentation here: https://blockchain21.mysequire.com/.

Over the last 12 months, BITF stock rose by 944.44%.

The market cap for the stock reached $545.26 million, with 145.02 million shares outstanding and 136.07 million shares in the current float. Compared to the average trading volume of 1.79M shares, BITF stock reached a trading volume of 3394114 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Bitfarms Ltd. [BITF]:

The Average True Range (ATR) for Bitfarms Ltd. is set at 0.40, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 10.11.

BITF Stock Performance Analysis:

Bitfarms Ltd. [BITF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.87. With this latest performance, BITF shares dropped by -7.39% in over the last four-week period, additionally plugging by 85.22% over the last 6 months – not to mention a rise of 944.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BITF stock in for the last two-week period is set at 49.81, with the RSI for the last a single of trading hit 53.16, and the three-weeks RSI is set at 48.71 for Bitfarms Ltd. [BITF], while it was recorded at 3.62 for the last single week of trading.

Insight into Bitfarms Ltd. Fundamentals:

Bitfarms Ltd. [BITF] Insider Position Details

There are presently around $0 million, or 8.73% of BITF stock, in the hands of institutional investors. The top three institutional holders of BITF stocks are: CYPRESS WEALTH SERVICES, LLC with ownership of 70,271, which is approximately New of the company’s market cap and around 25.06% of the total institutional ownership; BASKIN FINANCIAL SERVICES INC., holding 33,750 shares of the stock with an approximate value of $0.13 million in BITF stocks shares; and TOTH FINANCIAL ADVISORY CORP, currently with $1000.0 in BITF stock with ownership of nearly New of the company’s market capitalization.

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3 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 104,321 shares. Additionally, 1 investors decreased positions by around 7,000 shares, while 0 investors held positions by with 7,000 shares. The mentioned changes placed institutional holdings at 104,321 shares, according to the latest SEC report filing. BITF stock had 3 new institutional investments in for a total of 104,321 shares, while 1 institutional investors sold positions of 7,000 shares during the same period.

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