Bitfarms Ltd [NASDAQ: BITF] loss -4.46% or -0.09 points to close at $1.93 with a heavy trading volume of 41391805 shares.
The daily chart for BITF points out that the company has recorded -32.75% loss over the past six months.
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If we look at the average trading volume of 34.56M shares, BITF reached to a volume of 41391805 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 $4.73 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.
Alliance Global Partners have made an estimate for Bitfarms Ltd shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 04, 2024. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price from $4 to $5. The new note on the price target was released on June 11, 2024, representing the official price target for Bitfarms Ltd stock. Previously, the target price had yet another raise to $4, while H.C. Wainwright analysts kept a Buy rating on BITF stock.
The Average True Range (ATR) for Bitfarms Ltd is set at 0.19, with the Price to Sales ratio for BITF stock in the period of the last 12 months amounting to 4.98. The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 0.31.
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 -15.72. With this latest performance, BITF shares dropped by -14.79% in over the last four-week period, additionally sinking by -32.75% over the last 6 months – not to mention a drop of -34.58% 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 44.26, with the RSI for the last a single of trading hit 40.89, and the three-weeks RSI is set at 46.03 for Bitfarms Ltd [BITF]. The present Moving Average for the last 50 days of trading for this stock 2.0608, while it was recorded at 2.0340 for the last single week of trading, and 2.2040 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 3.68 and a Current Ratio set at 3.70.
An analysis of Institutional ownership at 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%.
