Bitfarms Ltd. [BITF] Revenue clocked in at $217.50 million, down -57.03% YTD: What’s Next?

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Bitfarms Ltd. [NASDAQ: BITF] price plunged by -19.93 percent to reach at -$0.54. 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.

A sum of 8016383 shares traded at recent session while its average daily volume was at 5.49M shares. Bitfarms Ltd. shares reached a high of $2.5277 and dropped to a low of $2.15 until finishing in the latest session at $2.17.

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

The Average True Range (ATR) for Bitfarms Ltd. is set at 0.28, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 2.69. The Price to Book ratio for the last quarter was 0.75, with the Price to Cash per share for the same quarter was set at 0.60.

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 -28.15. With this latest performance, BITF shares dropped by -34.04% in over the last four-week period, additionally sinking by -70.19% over the last 6 months – not to mention a drop of -60.50% 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 31.44, with the RSI for the last a single of trading hit 26.48, and the three-weeks RSI is set at 35.11 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 3.38, while it was recorded at 2.78 for the last single week of trading, and 4.86 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 $52 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 $7.08 million in BITF stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $4.65 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 May and at the time of the May reporting period, where 46 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 6,455,884 shares. Additionally, 33 investors decreased positions by around 9,755,463 shares, while 16 investors held positions by with 7,755,630 shares. The mentioned changes placed institutional holdings at 23,966,977 shares, according to the latest SEC report filing. BITF stock had 17 new institutional investments in for a total of 634,342 shares, while 18 institutional investors sold positions of 4,700,169 shares during the same period.