Bitfarms Ltd. [BITF] Is Currently -5.33 below its 200 Period Moving Avg: What Does This Mean?

Bitfarms Ltd. [NASDAQ: BITF] loss -5.33% or -0.17 points to close at $3.02 with a heavy trading volume of 20412800 shares. The company report on February 1, 2024 at 7:00 AM that Bitfarms Earns 357 BTC in January 2024.

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The daily chart for BITF points out that the company has recorded 117.27% gains over the past six months.

If we look at the average trading volume of 31.77M shares, BITF reached to a volume of 20412800 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BITF shares is $4.31 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.

B. Riley Securities have made an estimate for Bitfarms Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 14, 2023. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on May 19, 2023, representing the official price target for Bitfarms Ltd. stock.

The Average True Range (ATR) for Bitfarms Ltd. is set at 0.29, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 7.17. The Price to Book ratio for the last quarter was 2.92, with the Price to Cash per share for the same quarter was set at 0.22.

Trading performance analysis for BITF stock

Bitfarms Ltd. [BITF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.22. With this latest performance, BITF shares gained by 49.50% in over the last four-week period, additionally plugging by 117.27% over the last 6 months – not to mention a rise of 199.01% 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 55.46, with the RSI for the last a single of trading hit 52.66, and the three-weeks RSI is set at 56.26 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 2.72, while it was recorded at 3.29 for the last single week of trading, and 1.68 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 2.80 and a Current Ratio set at 2.82.

An analysis of Institutional ownership at 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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BITF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BITF stock with ownership which is approximately 5.8325%.