Bitfarms Ltd. [BITF] Stock trading around $1.10 per share: What’s Next?

Bitfarms Ltd. [NASDAQ: BITF] stock went on an upward path that rose over 16.17% on Tuesday, amounting to a one-week price increase of more than 14.48%. The company report on October 11, 2022 that Bitfarms Celebrates Five-Year Anniversary and Operations in Four Countries.

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● Operations and production capacity expanded to ten locations distributed across the Western Hemisphere.

● Hashrate climbed to a Company high 4.2 EH/s online in September 2022.

Over the last 12 months, BITF stock dropped by -79.59%.

The market cap for the stock reached $295.26 million, with 203.50 million shares outstanding and 180.19 million shares in the current float. Compared to the average trading volume of 3.97M shares, BITF stock reached a trading volume of 4135276 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 0.08, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 1.15. The Price to Book ratio for the last quarter was 0.48, with the Price to Cash per share for the same quarter was set at 0.24.

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 14.48. With this latest performance, BITF shares gained by 6.80% in over the last four-week period, additionally sinking by -60.29% over the last 6 months – not to mention a drop of -79.59% 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 53.36, with the RSI for the last a single of trading hit 62.22, and the three-weeks RSI is set at 48.96 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 1.2015, while it was recorded at 0.9744 for the last single week of trading, and 2.3066 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 1.30 and a Current Ratio set at 1.30.

Bitfarms Ltd. [BITF] Insider Position Details

There are presently around $31 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 $2.81 million in BITF stocks shares; and CITADEL ADVISORS LLC, currently with $2.44 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 December and at the time of the December reporting period, where 59 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 6,494,481 shares. Additionally, 31 investors decreased positions by around 5,689,152 shares, while 14 investors held positions by with 15,998,106 shares. The mentioned changes placed institutional holdings at 28,181,739 shares, according to the latest SEC report filing. BITF stock had 32 new institutional investments in for a total of 3,540,121 shares, while 20 institutional investors sold positions of 3,773,184 shares during the same period.


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