Market cap of Bitfarms Ltd. [BITF] reaches 852.99M – now what?

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Bitfarms Ltd. [NASDAQ: BITF] traded at a high on 05/04/22, posting a 7.72 gain after which it closed the day’ session at $3.21. The company report on May 2, 2022 that Bitfarms Provides April 2022 Production and Mining Operations Update.

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– Mines 405 Bitcoins for an Average of 13.5 Bitcoins per Day — Increases Hashrate 600 Petahash to 3.3 EH/s – .

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 results of the trading session contributed to over 6159739 shares changing hands. Over the past one week, the price volatility of Bitfarms Ltd. stands at 9.30% while the volatility over the past one month is 8.00%.

The market cap for BITF stock reached $852.99 million, with 187.82 million shares outstanding and 169.17 million shares in the current float. Compared to the average trading volume of 5.62M shares, BITF reached a trading volume of 6159739 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 0.26, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 3.93. The Price to Book ratio for the last quarter was 1.11, with the Price to Cash per share for the same quarter was set at 0.61.

How has BITF stock performed recently?

Bitfarms Ltd. [BITF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.24. With this latest performance, BITF shares dropped by -14.63% in over the last four-week period, additionally sinking by -49.92% over the last 6 months – not to mention a drop of -39.20% 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 49.95, with the RSI for the last a single of trading hit 54.65, and the three-weeks RSI is set at 47.95 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 3.42, while it was recorded at 3.02 for the last single week of trading, and 4.87 for the last 200 days.

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 $71 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 $9.72 million in BITF stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $6.38 million in BITF stock with ownership of nearly 56.432% of the company’s market capitalization.

49 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 6,442,318 shares. Additionally, 32 investors decreased positions by around 9,709,129 shares, while 15 investors held positions by with 7,732,767 shares. The mentioned changes placed institutional holdings at 23,884,214 shares, according to the latest SEC report filing. BITF stock had 20 new institutional investments in for a total of 708,150 shares, while 18 institutional investors sold positions of 4,653,844 shares during the same period.