Bitfarms Ltd. [BITF] is -73.86% lower this YTD. Is it still time to buy?

Bitfarms Ltd. [NASDAQ: BITF] slipped around -0.02 points on Monday, while shares priced at $1.32 at the close of the session, down -1.49%. 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. stock is now -73.86% down from its year-to-date (YTD) trading value. BITF Stock saw the intraday high of $1.3675 and lowest of $1.26 per share. The company’s 52-week high price is 9.36, which means current price is +26.92% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 4.45M shares, BITF reached a trading volume of 5480013 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 0.17, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 1.55. The Price to Book ratio for the last quarter was 0.62, with the Price to Cash per share for the same quarter was set at 0.21.

How has BITF stock performed recently?

Bitfarms Ltd. [BITF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.35. With this latest performance, BITF shares dropped by -9.59% in over the last four-week period, additionally sinking by -64.99% over the last 6 months – not to mention a drop of -77.74% 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 41.14, with the RSI for the last a single of trading hit 35.59, and the three-weeks RSI is set at 43.47 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 1.4364, while it was recorded at 1.4080 for the last single week of trading, and 3.3378 for the last 200 days.

Bitfarms Ltd. [BITF]: Deeper insight into the 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 1.30 and a Current Ratio set at 1.30.

Insider trade positions for Bitfarms Ltd. [BITF]

There are presently around $37 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 $3.37 million in BITF stocks shares; and CITADEL ADVISORS LLC, currently with $2.92 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 60 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 6,605,789 shares. Additionally, 35 investors decreased positions by around 5,802,393 shares, while 13 investors held positions by with 15,704,554 shares. The mentioned changes placed institutional holdings at 28,112,736 shares, according to the latest SEC report filing. BITF stock had 36 new institutional investments in for a total of 3,629,920 shares, while 23 institutional investors sold positions of 3,793,859 shares during the same period.


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