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Positives for Bitfarms Ltd. (BITF) as stock gains in recent trading

Bitfarms Ltd. (NASDAQ: BITF) is 0.69% higher on its value in year-to-date trading and has touched a low of $0.68 and a high of $3.91 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BITF stock was last observed hovering at around $2.85 in the last trading session, with the day’s gains setting it 0.08%.

Currently trading at $2.93, the stock is -0.78% and 6.24% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 17.73 million and changing 2.81% at the moment leaves the stock 70.24% off its SMA200. BITF registered 208.45% gain for a year compared to 6-month gain of 103.47%. The firm has a 50-day simple moving average (SMA 50) of $7.10 and a 200-day simple moving average (SMA200) of $33.22.

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The stock witnessed a 25.75% loss in the last 1 month and extending the period to 3 months gives it a 95.33%, and is -2.98% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 16.07% over the week and 10.56% over the month.

Bitfarms Ltd. (BITF) has around 150 employees, a market worth around $884.45M and $127.16M in sales. Profit margin for the company is -49.48%. Distance from 52-week low is 330.88% and -25.06% from its 52-week high. The company has generated returns on investments over the last 12 months (-20.92%).

Bitfarms Ltd. quarterly earnings per share for the current quarter are estimated at -$0.03 with sales reaching $43.08M over the same period.The EPS is expected to grow by 81.96% this year.

Bitfarms Ltd. (BITF) Top Institutional Holders

152 institutions hold shares in Bitfarms Ltd. (BITF), with institutional investors hold 21.95% of the company’s shares. The shares outstanding are 301.86M, and float is at 282.27M with Short Float at 9.21%. Institutions hold 20.93% of the Float.

The top institutional shareholder in the company is Invesco Ltd. with over 6.3 million shares valued at $9.26 million. The investor’s holdings represent 2.87% of the BITF Shares outstanding. As of Jun 29, 2023, the second largest holder is State Street Corporation with 4.23 million shares valued at $6.22 million to account for 1.93% of the shares outstanding. The other top investors are Toroso Investments, LLC which holds 4.14 million shares representing 1.89% and valued at over $6.09 million, while Van Eck Associates Corporation holds 1.38% of the shares totaling 3.02 million with a market value of $4.44 million.

Bitfarms Ltd. (BITF) Insider Activity

A total of 3 insider transactions have happened at Bitfarms Ltd. (BITF) in the last six months, with sales accounting for 1 and purchases happening 2 times.

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