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

Bitfarms Ltd. [NASDAQ: BITF] stock went on a downward path that fall over -9.84% on Monday, amounting to a one-week price decrease of less than -16.03%. The company report on September 1, 2023 at 7:00 AM that Bitfarms Mines 383 BTC in August 2023.

– Increases hashrate to 5.6 EH/s -.

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– Upgrades Magog farm with installation of high efficiency miners -.

Over the last 12 months, BITF stock dropped by -14.06%. The average equity rating for BITF stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $424.58 million, with 273.81 million shares outstanding and 258.10 million shares in the current float. Compared to the average trading volume of 10.24M shares, BITF stock reached a trading volume of 6096123 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Bitfarms Ltd. [BITF]:

Cantor Fitzgerald have made an estimate for Bitfarms Ltd. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 19, 2023.

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 2.47. The Price to Book ratio for the last quarter was 0.72, with the Price to Cash per share for the same quarter was set at 0.11.

BITF Stock Performance Analysis:

Bitfarms Ltd. [BITF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.03. With this latest performance, BITF shares dropped by -29.03% in over the last four-week period, additionally plugging by 54.93% over the last 6 months – not to mention a drop of -14.06% 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 32.27, with the RSI for the last a single of trading hit 26.49, and the three-weeks RSI is set at 36.64 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 1.5624, while it was recorded at 1.2160 for the last single week of trading, and 1.1004 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 -28.78 and a Gross Margin at +7.38. Bitfarms Ltd.’s Net Margin is presently recorded at -167.84.

Return on Total Capital for BITF is now -9.93, given the latest momentum, and Return on Invested Capital for the company is -67.83. Return on Equity for this stock declined to -70.72, with Return on Assets sitting at -54.11. When it comes to the capital structure of this company, Bitfarms Ltd. [BITF] has a Total Debt to Total Equity ratio set at 25.44. Additionally, BITF Total Debt to Total Capital is recorded at 20.28, with Total Debt to Total Assets ending up at 18.95. Long-Term Debt to Equity for the company is recorded at 7.16, with the Long-Term Debt to Total Capital now at 5.71.

Reflecting on the efficiency of the workforce at the company, Bitfarms Ltd. [BITF] managed to generate an average of -$2,074,721 per employee. Receivables Turnover for the company is 13.53 with a Total Asset Turnover recorded at a value of 0.32.Bitfarms Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.

Bitfarms Ltd. [BITF] Institutonal Ownership Details

The top three institutional holders of BITF stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in BITF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in BITF stock with ownership which is approximately 5.7381%.

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