Market cap of Bitfarms Ltd. [BITF] reaches 932.29M – now what?


Bitfarms Ltd. [NASDAQ: BITF] stock went on an upward path that rose over 2.74% on Tuesday, amounting to a one-week price increase of more than 12.61%. The company report on March 21, 2022 that Bitfarms to Report Fourth Quarter and Full Year 2021 Financial Results on Monday, March 28, 2022.

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Conference Call to be Held Monday, March 28, 2022, at 11:00 a.m. ET.

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 dropped by -30.04%.

The market cap for the stock reached $932.29 million, with 187.22 million shares outstanding and 169.23 million shares in the current float. Compared to the average trading volume of 6.64M shares, BITF stock reached a trading volume of 5193066 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 0.34, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 6.09. The Price to Book ratio for the last quarter was 1.76, with the Price to Cash per share for the same quarter was set at 0.22.

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 12.61. With this latest performance, BITF shares gained by 8.70% in over the last four-week period, additionally sinking by -11.97% over the last 6 months – not to mention a drop of -30.04% 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 51.67, with the RSI for the last a single of trading hit 54.92, and the three-weeks RSI is set at 49.37 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 3.77, while it was recorded at 3.72 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 5.50 and a Current Ratio set at 5.50.

Bitfarms Ltd. [BITF] Insider Position Details

There are presently around $89 million, or 14.02% of BITF stock, in the hands of institutional investors. The top three institutional holders of BITF stocks are: INVESCO LTD. with ownership of 8,352,711, which is approximately -25.507% of the company’s market cap and around 14.93% of the total institutional ownership; CITADEL ADVISORS LLC, holding 3,263,074 shares of the stock with an approximate value of $11.91 million in BITF stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $7.82 million in BITF stock with ownership of nearly 56.432% of the company’s market capitalization.

62 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 6,864,281 shares. Additionally, 25 investors decreased positions by around 9,138,635 shares, while 11 investors held positions by with 8,384,724 shares. The mentioned changes placed institutional holdings at 24,387,640 shares, according to the latest SEC report filing. BITF stock had 31 new institutional investments in for a total of 1,077,932 shares, while 14 institutional investors sold positions of 4,038,503 shares during the same period.