Bitfarms Ltd. [BITF] moved down -6.65: Why It’s Important


Bitfarms Ltd. [NASDAQ: BITF] slipped around -0.25 points on Tuesday, while shares priced at $3.51 at the close of the session, down -6.65%. The company report on April 5, 2022 that Megatrends: CEOs of NIO, NuRAN Wireless, Bitfarms, and First Energy Metals Focus on Next Wave of Billion Dollar Market Opportunities in Crypto, Electric Vehicles, Battery Metals, and Telecom in Developing Markets..

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Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from CEOs of: NIO, Inc. (NYSE:NIO),NuRAN Wireless (OTC: NRRWF) (CSE: NUR) First Energy Metals (OTC: FEMFF) (CSE: FE), and Bitfarms Ltd. (NASDAQ: BITF) (TSX.V: BITF).

Today’s emerging technologies and lifestyle megatrends are creating billion dollar opportunities for disruptive innovation in how we live, work and play. Wall Street Reporter highlights the latest comments from industry thought leaders shaping our world today, and in the decades ahead:.

Bitfarms Ltd. stock is now -30.50% down from its year-to-date (YTD) trading value. BITF Stock saw the intraday high of $3.76 and lowest of $3.50 per share. The company’s 52-week high price is 9.36, which means current price is +27.64% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 6.60M shares, BITF reached a trading volume of 5356971 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 0.31, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 4.14. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 0.63.

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 -17.02. With this latest performance, BITF shares gained by 8.67% in over the last four-week period, additionally sinking by -32.89% over the last 6 months – not to mention a drop of -33.75% 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 44.99, with the RSI for the last a single of trading hit 41.37, and the three-weeks RSI is set at 45.93 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 3.69, while it was recorded at 3.76 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 2.80 and a Current Ratio set at 2.80.

Insider trade positions for Bitfarms Ltd. [BITF]

There are presently around $92 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 $12.27 million in BITF stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $8.05 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.