Bitfarms Ltd. [BITF] gain 184.09% so far this year. What now?

Bitfarms Ltd. [NASDAQ: BITF] loss 0.00% or 0.0 points to close at $1.25 with a heavy trading volume of 11362349 shares. The company report on April 12, 2023 that Bitfarms to Participate in the Ladenburg Thalmann Technology Expo 2023.

Presentation: Thursday, April 27, 2023 at 10:30 AM ET.

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It opened the trading session at $1.34, the shares rose to $1.35 and dropped to $1.1506, the range by which the price of stock traded the whole day. The daily chart for BITF points out that the company has recorded 30.88% gains over the past six months. However, it is still -228.95% lower than its most recent low trading price.

If we look at the average trading volume of 4.64M shares, BITF reached to a volume of 11362349 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 0.11, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 1.90. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 0.14.

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 35.87. With this latest performance, BITF shares gained by 52.81% in over the last four-week period, additionally plugging by 30.88% over the last 6 months – not to mention a drop of -59.42% 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 70.57, with the RSI for the last a single of trading hit 79.05, and the three-weeks RSI is set at 65.15 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 0.9627, while it was recorded at 1.1320 for the last single week of trading, and 1.0174 for the last 200 days.

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

Bitfarms Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

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

There are presently around $39 million, or 16.80% of BITF stock, in the hands of institutional investors. The top three institutional holders of BITF stocks are: INVESCO LTD. with ownership of 13,605,080, which is approximately -6.707% of the company’s market cap and around 7.14% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 3,870,710 shares of the stock with an approximate value of $4.84 million in BITF stocks shares; and VAN ECK ASSOCIATES CORP, currently with $4.03 million in BITF stock with ownership of nearly 65.803% of the company’s market capitalization.

44 institutional holders increased their position in Bitfarms Ltd. [NASDAQ:BITF] by around 4,829,719 shares. Additionally, 34 investors decreased positions by around 3,607,382 shares, while 19 investors held positions by with 22,578,554 shares. The mentioned changes placed institutional holdings at 31,015,655 shares, according to the latest SEC report filing. BITF stock had 14 new institutional investments in for a total of 387,504 shares, while 15 institutional investors sold positions of 1,184,007 shares during the same period.


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