Bitfarms Ltd. [NASDAQ: BITF] traded at a low on 11/06/23, posting a -0.85 loss after which it closed the day’ session at $1.16. The company report on November 1, 2023 at 7:00 AM that Bitfarms Earns 398 BTC in October 2023.
– Reached 54 MW at Rio Cuarto facility and 240 MW total operating capacity — Increases hashrate 3% to 6.3 EH/s -.
The results of the trading session contributed to over 6480265 shares changing hands. Over the past one week, the price volatility of Bitfarms Ltd. stands at 6.80% while the volatility over the past one month is 8.02%.
The market cap for BITF stock reached $280.15 million, with 241.51 million shares outstanding and 225.92 million shares in the current float. Compared to the average trading volume of 6.78M shares, BITF reached a trading volume of 6480265 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]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BITF shares is $3.19 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BITF stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
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 0.09, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 2.23. The Price to Book ratio for the last quarter was 1.10, with the Price to Cash per share for the same quarter was set at 0.20.
How has BITF stock performed recently?
Bitfarms Ltd. [BITF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.41. With this latest performance, BITF shares gained by 8.41% in over the last four-week period, additionally plugging by 8.41% over the last 6 months – not to mention a rise of 30.57% 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 55.05, with the RSI for the last a single of trading hit 58.53, and the three-weeks RSI is set at 52.01 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 1.1219, while it was recorded at 1.1320 for the last single week of trading, and 1.1961 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 -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 1.91 and a Current Ratio set at 1.93.
Insider trade positions for Bitfarms Ltd. [BITF]
The top three institutional holders of BITF stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in BITF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in BITF stock with ownership which is approximately 5.7994%.