Bitfarms Ltd. [NASDAQ: BITF] traded at a high on Friday, posting a 2.27 gain after which it closed the day’ session at $2.25.
The results of the trading session contributed to over 17529048 shares changing hands. Over the past one week, the price volatility of Bitfarms Ltd. stands at 5.63% while the volatility over the past one month is 6.13%.
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The market cap for BITF stock reached $1.02 billion, with 453.51 million shares outstanding and 347.62 million shares in the current float. Compared to the average trading volume of 18.32M shares, BITF reached a trading volume of 17529048 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 $4.28 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 June 11, 2024. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on June 04, 2024, representing the official price target for Bitfarms Ltd. stock. Previously, the target price had yet another raise to $4, while B. Riley Securities analysts kept a Buy rating on BITF stock.
The Average True Range (ATR) for Bitfarms Ltd. is set at 0.14, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 5.91. The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 0.43.
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 12.50. With this latest performance, BITF shares gained by 4.17% in over the last four-week period, additionally plugging by 0.90% over the last 6 months – not to mention a rise of 116.35% 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 56.30, with the RSI for the last a single of trading hit 62.81, and the three-weeks RSI is set at 52.72 for Bitfarms Ltd. [BITF]. The present Moving Average for the last 50 days of trading for this stock 2.24, while it was recorded at 2.17 for the last single week of trading, and 2.39 for the last 200 days.
Bitfarms Ltd. [BITF]: Deeper insight into the fundamentals
Bitfarms Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.09 and a Current Ratio set at 5.11.
Earnings analysis for Bitfarms Ltd. [BITF]
With the latest financial reports released by the company, Bitfarms Ltd. posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.04/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -0.03. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BITF.
Insider trade positions for Bitfarms Ltd. [BITF]
The top three institutional holders of BITF stocks are: INVESCO LTD. with ownership of 19.71 million shares, which is approximately 5.8191%. TOROSO INVESTMENTS, LLC, holding 6.62 million shares of the stock with an approximate value of $$17.01 million in BITF stocks shares; and TOROSO INVESTMENTS, LLC, currently with $$13.27 million in BITF stock with ownership which is approximately 1.5244%.
