Market cap of Bitfarms Ltd. [BITF] reaches 1.20B – now what?

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Bitfarms Ltd. [NASDAQ: BITF] stock went on a downward path that fall over -3.34% on Tuesday, amounting to a one-week price decrease of less than -8.27%. 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 -.


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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.

Over the last 12 months, BITF stock rose by 1740.34%.

The market cap for the stock reached $1.20 billion, with 151.96 million shares outstanding and 146.72 million shares in the current float. Compared to the average trading volume of 6.94M shares, BITF stock reached a trading volume of 4586803 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 0.41, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 11.69. The Price to Book ratio for the last quarter was 3.20, with the Price to Cash per share for the same quarter was set at 0.19.

BITF Stock Performance Analysis:

Bitfarms Ltd. [BITF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.27. With this latest performance, BITF shares gained by 13.51% in over the last four-week period, additionally plugging by 13.51% over the last 6 months – not to mention a rise of 1740.34% 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 49.59, with the RSI for the last a single of trading hit 48.06, and the three-weeks RSI is set at 50.11 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 5.33, while it was recorded at 5.43 for the last single week of trading.

Insight into Bitfarms Ltd. Fundamentals:

Bitfarms Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.00.

Bitfarms Ltd. [BITF] Insider Position Details

There are presently around $74 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 $9.34 million in BITF stocks shares; and AWM INVESTMENT COMPANY, INC., currently with $2.4 million in BITF stock with ownership of nearly New of the company’s market capitalization.

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37 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 14,129,108 shares. Additionally, 3 investors decreased positions by around 49,885 shares, while 1 investors held positions by with 25,115 shares. The mentioned changes placed institutional holdings at 14,204,108 shares, according to the latest SEC report filing. BITF stock had 37 new institutional investments in for a total of 14,129,108 shares, while 1 institutional investors sold positions of 20,564 shares during the same period.

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