Market cap of Bitfarms Ltd. [BITF] reaches 1.71B – now what?


Bitfarms Ltd. [NASDAQ: BITF] slipped around -0.05 points on Wednesday, while shares priced at $7.60 at the close of the session, down -0.65%. The company report on December 1, 2021 that CEOs of BIRD, ENTEF, OGGFF, and BITF Riding Trillion Dollar Millennial and Gen Z Lifestyle Trends in: Plant-Based Foods, Crypto, Digital Entertainment, Eco-Friendly Brands.

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from CEO’s of: Allbirds, Inc. (NASDAQ: BIRD), Organic Garage (OTC: OGGFF) (TSX.V: OG) Bitfarms (NASDAQ: BITF) (TSX.V: BITF) and ESE Entertainment (TSX.V: ESE) (OTC: ENTEF).

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Millennials and Gen-Z are now entering their prime consumer years – driving $1.4 Trillion in spending power. Lifestyle trends embraced by these tech-savvy consumers are creating generational investment opportunities in diverse sectors such as: digital entertainment, cryptocurrencies, plant-based foods, and climate-aware, sustainable apparel brands. Wall Street Reporter highlights the latest comments from industry thought leaders:.

Compared to the average trading volume of 7.96M shares, BITF reached a trading volume of 10456346 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Bitfarms Ltd. [BITF]?

The Average True Range (ATR) for Bitfarms Ltd. is set at 0.79, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 11.19. The Price to Book ratio for the last quarter was 3.57, with the Price to Cash per share for the same quarter was set at 0.24.

How has BITF stock performed recently?

Bitfarms Ltd. [BITF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.47. With this latest performance, BITF shares gained by 36.45% in over the last four-week period, additionally plugging by 67.96% over the last 6 months – not to mention a rise of 1166.67% 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 52.98, with the RSI for the last a single of trading hit 49.87, and the three-weeks RSI is set at 54.58 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 6.23, while it was recorded at 7.62 for the last single week of trading.

Bitfarms Ltd. [BITF]: Deeper insight into the fundamentals

Bitfarms Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.50 and a Current Ratio set at 5.50.

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Insider trade positions for Bitfarms Ltd. [BITF]

There are presently around $203 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 11,212,784, which is approximately 8.828% of the company’s market cap and around 25.06% of the total institutional ownership; COOPER CREEK PARTNERS MANAGEMENT LLC, holding 2,797,280 shares of the stock with an approximate value of $21.26 million in BITF stocks shares; and BANK OF MONTREAL /CAN/, currently with $19.26 million in BITF stock with ownership of nearly 1948.539% of the company’s market capitalization.

53 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 14,604,250 shares. Additionally, 9 investors decreased positions by around 2,021,824 shares, while 10 investors held positions by with 10,036,411 shares. The mentioned changes placed institutional holdings at 26,662,485 shares, according to the latest SEC report filing. BITF stock had 39 new institutional investments in for a total of 7,147,269 shares, while 4 institutional investors sold positions of 1,961,824 shares during the same period.