Bitfarms Ltd. [NASDAQ: BITF] loss -6.67% or -0.35 points to close at $4.90 with a heavy trading volume of 5287409 shares. The company report on October 7, 2021 that Bitfarms Signs Contracts and Commenced Construction of a 210-Megawatt Facility.
– New facility in Argentina greatly expands global Bitcoin mining production at a substantially lower cost -.
This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated August 16, 2021 to its short form base shelf prospectus dated August 12, 2021.
It opened the trading session at $5.18, the shares rose to $5.21 and dropped to $4.80, the range by which the price of stock traded the whole day. The daily chart for BITF points out that the company has recorded 12.90% gains over the past six months. However, it is still -2127.27% lower than its most recent low trading price.
If we look at the average trading volume of 6.12M shares, BITF reached to a volume of 5287409 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Bitfarms Ltd. [BITF]:
The Average True Range (ATR) for Bitfarms Ltd. is set at 0.43, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 10.23. The Price to Book ratio for the last quarter was 2.95, with the Price to Cash per share for the same quarter was set at 0.21.
Trading performance analysis for BITF stock
Bitfarms Ltd. [BITF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.31. With this latest performance, BITF shares dropped by -11.23% in over the last four-week period, additionally plugging by 12.90% over the last 6 months – not to mention a rise of 1860.00% 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 47.35, with the RSI for the last a single of trading hit 47.19, and the three-weeks RSI is set at 48.00 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 5.46, while it was recorded at 5.10 for the last single week of trading.
Bitfarms Ltd. [BITF]: A deeper dive into fundamental analysis
Bitfarms Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.00.
An analysis of insider ownership at Bitfarms Ltd. [BITF]
There are presently around $69 million, or 8.73% of BITF stock, in the hands of institutional investors. The top three institutional holders of BITF stocks are: INVESCO LTD. with ownership of 10,303,229, which is approximately New of the company’s market cap and around 25.06% of the total institutional ownership; RUSSELL INVESTMENTS GROUP, LTD., holding 1,792,599 shares of the stock with an approximate value of $8.78 million in BITF stocks shares; and AWM INVESTMENT COMPANY, INC., currently with $2.25 million in BITF stock with ownership of nearly New of the company’s market capitalization.
36 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 14,093,050 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 14,093,050 shares, according to the latest SEC report filing. BITF stock had 36 new institutional investments in for a total of 14,093,050 shares, while 0 institutional investors sold positions of 0 shares during the same period.