Bitfarms Ltd (NASDAQ: BITF) is 11.41% higher on its value in year-to-date trading and has touched a low of $1.47 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 $1.67 in the last trading session, with the day’s loss setting it -0.01%.
Currently trading at $1.66, the stock is 1.41% and -14.09% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 46.31 million and changing -0.60% at the moment leaves the stock -21.78% off its SMA200. BITF registered -20.57% loss for a year compared to 6-month loss of -42.36%. The firm has a 50-day simple moving average (SMA 50) of $1.9417 and a 200-day simple moving average (SMA200) of $2.124725.
The stock witnessed a -8.79% gain in the last 1 month and extending the period to 3 months gives it a -19.42%, and is 5.73% up 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 5.79% over the week and 7.16% over the month.
Bitfarms Ltd (BITF) has around 170 employees, a market worth around $784.35M and $182.96M in sales. Fwd P/E is 22.34. Profit margin for the company is -69.08%. Distance from 52-week low is 12.93% and -57.54% from its 52-week high. The company has generated returns on investments over the last 12 months (-23.69%).
with sales reaching $56.11M over the same period.The EPS is expected to grow by 47.00% this year, but quarterly earnings will post 31.74% year-over-year. Quarterly sales are estimated to grow 21.34% in year-over-year returns.
The shares outstanding are 452.94M, and float is at 381.75M with Short Float at 15.58%.
The top institutional shareholder in the company is INVESCO LTD. with over 19.71 million shares valued at $50.66 million. The investor’s holdings represent 5.8191 of the BITF Shares outstanding. As of 2024-06-30, the second largest holder is TOROSO INVESTMENTS, LLC with 6.62 million shares valued at $17.01 million to account for 1.9535 of the shares outstanding. The other top investors are VAN ECK ASSOCIATES CORP which holds 5.16 million shares representing 1.5244 and valued at over $13.27 million, while STATE STREET CORP holds 1.4329 of the shares totaling 4.85 million with a market value of $12.47 million.
Bitfarms Ltd (BITF) Insider Activity
Still, SEC filings show that on Oct 07 ’24, MALON INVESTMENTS HOLDINGS COR (Former Director) Proposed Sale 600,000 shares at an average price of $1.93 for $1.16 million. The insider now directly holds shares of Bitfarms Ltd (BITF).
