Bitfarms Ltd. [BITF] moved down -5.47: Why It’s Important


Bitfarms Ltd. [NASDAQ: BITF] stock went on a downward path that fall over -5.47% on Wednesday, amounting to a one-week price increase of more than 2.70%. The company report on May 18, 2022 that Bitfarms to Participate in Upcoming Investor Conferences.

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– H.C. Wainwright Global Investment Conference, May 23-26, Miami –– D.A. Davidson Bitcoin & Blockchain Conference, June 2, NYC –.

Bitfarms Ltd. (NASDAQ: BITF // TSX: BITF), a global Bitcoin self-mining company, announces that management will participate in the following conferences in May and June.

Over the last 12 months, BITF stock dropped by -54.11%.

The market cap for the stock reached $454.50 million, with 187.82 million shares outstanding and 169.17 million shares in the current float. Compared to the average trading volume of 5.25M shares, BITF stock reached a trading volume of 4817540 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 0.26, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 2.06. The Price to Book ratio for the last quarter was 0.65, with the Price to Cash per share for the same quarter was set at 0.68.

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 2.70. With this latest performance, BITF shares dropped by -42.42% in over the last four-week period, additionally sinking by -77.46% over the last 6 months – not to mention a drop of -54.11% 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 33.18, with the RSI for the last a single of trading hit 31.52, and the three-weeks RSI is set at 35.41 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 3.14, while it was recorded at 1.94 for the last single week of trading, and 4.78 for the last 200 days.

Insight into Bitfarms Ltd. 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.

Bitfarms Ltd. [BITF] Insider Position Details

There are presently around $50 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 13,039,797, which is approximately 56.115% of the company’s market cap and around 14.93% of the total institutional ownership; COOPER CREEK PARTNERS MANAGEMENT LLC, holding 2,159,329 shares of the stock with an approximate value of $4.34 million in BITF stocks shares; and BANK OF MONTREAL /CAN/, currently with $2.47 million in BITF stock with ownership of nearly -19.585% 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 38 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 9,530,067 shares. Additionally, 46 investors decreased positions by around 8,974,004 shares, while 16 investors held positions by with 6,439,341 shares. The mentioned changes placed institutional holdings at 24,943,412 shares, according to the latest SEC report filing. BITF stock had 16 new institutional investments in for a total of 2,917,679 shares, while 28 institutional investors sold positions of 5,676,127 shares during the same period.