Bitfarms Ltd. [BITF] is -56.83% lower this YTD. Is it still time to buy?

Bitfarms Ltd. [NASDAQ: BITF] gained 9.00% on the last trading session, reaching $2.18 price per share at the time. The company report on August 15, 2022 that Bitfarms Reports Second Quarter 2022 Results.

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– Generated positive cash flow from mining operations -.

– Mined 1,257 BTC in Q2 2022 and 500 BTC in July 2022 -.

Bitfarms Ltd. represents 197.50 million in outstanding shares, while the company has a total market value of $483.74 million with the latest information. BITF stock price has been found in the range of $1.895 to $2.33.

If compared to the average trading volume of 4.25M shares, BITF reached a trading volume of 11162094 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Bitfarms Ltd. [BITF]:

The Average True Range (ATR) for Bitfarms Ltd. is set at 0.19, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 2.09. The Price to Book ratio for the last quarter was 0.73, with the Price to Cash per share for the same quarter was set at 0.44.

Trading performance analysis for BITF stock

Bitfarms Ltd. [BITF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 28.99. With this latest performance, BITF shares gained by 86.32% in over the last four-week period, additionally sinking by -44.10% over the last 6 months – not to mention a drop of -67.85% 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 72.84, with the RSI for the last a single of trading hit 80.21, and the three-weeks RSI is set at 65.74 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 1.45, while it was recorded at 1.84 for the last single week of trading, and 3.60 for the last 200 days.

Bitfarms Ltd. [BITF]: A deeper dive into fundamental analysis

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 2.30 and a Current Ratio set at 2.30.

An analysis of insider ownership at Bitfarms Ltd. [BITF]

There are presently around $61 million, or 16.54% of BITF stock, in the hands of institutional investors. The top three institutional holders of BITF stocks are: INVESCO LTD. with ownership of 12,297,048, which is approximately -5.696% of the company’s market cap and around 13.77% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 2,551,596 shares of the stock with an approximate value of $5.56 million in BITF stocks shares; and CITADEL ADVISORS LLC, currently with $4.83 million in BITF stock with ownership of nearly 109.556% of the company’s market capitalization.

Positions in Bitfarms Ltd. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 57 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 6,466,458 shares. Additionally, 38 investors decreased positions by around 6,085,964 shares, while 12 investors held positions by with 15,420,983 shares. The mentioned changes placed institutional holdings at 27,973,405 shares, according to the latest SEC report filing. BITF stock had 34 new institutional investments in for a total of 3,554,339 shares, while 24 institutional investors sold positions of 3,794,449 shares during the same period.


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