Bitfarms Ltd. [BITF] gain 165.79% so far this year. What now?



Bitfarms Ltd. [NASDAQ: BITF] closed the trading session at $5.05 on 12/31/21. The day’s price range saw the stock hit a low of $4.94, while the highest price level was $5.35. The company report on December 31, 2021 that Bitfarms Secures $100 Million Credit Facility.

Non-Dilutive Capital Increases Financing Flexibility to Fund Growth Initiatives.

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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.

The stocks have a year to date performance of 165.79 percent and weekly performance of -12.93 percent. The stock has been moved at 24.38 percent over the last six months. The stock has performed -33.55 percent around the most recent 30 days and changed 0.40 percent over the most recent 3-months.

If compared to the average trading volume of 8.38M shares, BITF reached to a volume of 6792131 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Bitfarms Ltd. [BITF]:

The Average True Range (ATR) for Bitfarms Ltd. is set at 0.58, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 7.02. The Price to Book ratio for the last quarter was 2.33, with the Price to Cash per share for the same quarter was set at 0.26.

BITF stock trade performance evaluation

Bitfarms Ltd. [BITF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.93. With this latest performance, BITF shares dropped by -33.55% in over the last four-week period, additionally plugging by 24.38% over the last 6 months – not to mention a rise of 165.79% 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 41.39, with the RSI for the last a single of trading hit 40.67, and the three-weeks RSI is set at 43.01 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 6.44, while it was recorded at 5.29 for the last single week of trading.

Bitfarms Ltd. [BITF]: An insightful look at the core 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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Bitfarms Ltd. [BITF]: Insider Ownership positions

There are presently around $135 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 $14.13 million in BITF stocks shares; and BANK OF MONTREAL /CAN/, currently with $12.8 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.