Market cap of Bitfarms Ltd. [BITF] reaches 817.61M – now what?

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Bitfarms Ltd. [NASDAQ: BITF] price plunged by -4.70 percent to reach at -$0.15. The company report on April 7, 2022 that Bitfarms Up-listing to the Toronto Stock Exchange.

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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.

Bitfarms Ltd. (NASDAQ: BITF // TSXV: BITF) (“Bitfarms” or the “Company”), a global Bitcoin self-mining company, has received final approval for the listing of its common shares on the Toronto Stock Exchange (the “TSX”).

A sum of 3150878 shares traded at recent session while its average daily volume was at 6.20M shares. Bitfarms Ltd. shares reached a high of $3.34 and dropped to a low of $3.00 until finishing in the latest session at $3.04.

Guru’s Opinion on Bitfarms Ltd. [BITF]:

The Average True Range (ATR) for Bitfarms Ltd. is set at 0.27, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 3.84. The Price to Book ratio for the last quarter was 1.07, with the Price to Cash per share for the same quarter was set at 0.59.

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 -10.32. With this latest performance, BITF shares dropped by -18.93% in over the last four-week period, additionally sinking by -47.68% over the last 6 months – not to mention a drop of -8.98% 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 40.15, with the RSI for the last a single of trading hit 36.82, and the three-weeks RSI is set at 42.12 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 3.59, while it was recorded at 3.18 for the last single week of trading, and 4.90 for the last 200 days.

Insight into Bitfarms Ltd. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Bitfarms Ltd. [BITF] shares currently have an operating margin of +40.05 and a Gross Margin at +65.56. Bitfarms Ltd.’s Net Margin is presently recorded at +13.06.

Return on Equity for this stock inclined to 10.03, with Return on Assets sitting at 7.39.

Bitfarms Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 2.80.

Bitfarms Ltd. [BITF] Insider Position Details

There are presently around $78 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 $10.41 million in BITF stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $6.83 million in BITF stock with ownership of nearly 56.432% of the company’s market capitalization.

Positions in Bitfarms Ltd. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 57 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 6,418,876 shares. Additionally, 25 investors decreased positions by around 9,064,925 shares, while 14 investors held positions by with 8,858,465 shares. The mentioned changes placed institutional holdings at 24,342,266 shares, according to the latest SEC report filing. BITF stock had 27 new institutional investments in for a total of 649,693 shares, while 13 institutional investors sold positions of 4,036,441 shares during the same period.