Bitfarms Ltd (NASDAQ: BITF) is -6.04% lower on its value in year-to-date trading and has touched a low of $1.36 and a high of $3.91 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The BITF stock was last observed hovering at around $1.40 in the last trading session, with the day’s loss setting it 0.0%.
Currently trading at $1.40, the stock is -12.94% and -24.60% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 23.2 million and changing 0.00% at the moment leaves the stock -33.72% off its SMA200. BITF registered -32.37% loss for a year compared to 6-month loss of -47.96%. The firm has a 50-day simple moving average (SMA 50) of $1.8825 and a 200-day simple moving average (SMA200) of $2.115025.
The stock witnessed a -17.16% gain in the last 1 month and extending the period to 3 months gives it a -29.65%, and is -16.17% 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 8.12% over the week and 7.18% over the month.
Bitfarms Ltd (BITF) has around 170 employees, a market worth around $661.50M and $182.96M in sales. Fwd P/E is 18.67. Profit margin for the company is -69.08%. Distance from 52-week low is 2.94% and -64.19% 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.
Bitfarms Ltd (BITF) Top Institutional Holders
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
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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).
