Bitfarms Ltd (NASDAQ: BITF) is -26.17% lower on its value in year-to-date trading and has touched a low of $0.99 and a high of $3.28 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 $1.01 in the last trading session, with the day’s gains setting it 0.09%.
Currently trading at $1.10, the stock is -1.03% and -17.27% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 29.64 million and changing 8.91% at the moment leaves the stock -44.56% off its SMA200. BITF registered -55.82% loss for a year compared to 6-month loss of -45.81%. The firm has a 50-day simple moving average (SMA 50) of $1.3296 and a 200-day simple moving average (SMA200) of $1.984.
The stock witnessed a -16.67% gain in the last 1 month and extending the period to 3 months gives it a -39.56%, and is 0.00% 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 7.73% over the week and 9.25% over the month.
Bitfarms Ltd (BITF) has around 170 employees, a market worth around $491.74M and $182.96M in sales. Fwd P/E is 18.33. Profit margin for the company is -69.08%. Distance from 52-week low is 11.11% and -66.46% from its 52-week high. The company has generated returns on investments over the last 12 months (-23.69%).
with sales reaching $54.22M over the same period.The EPS is expected to grow by 46.50% this year, but quarterly earnings will post 31.23% year-over-year. Quarterly sales are estimated to grow 17.25% in year-over-year returns.
Bitfarms Ltd (BITF) Top Institutional Holders
202.0 institutions hold shares in Bitfarms Ltd (BITF), with institutional investors hold 31.57% of the company’s shares. The shares outstanding are 452.94M, and float is at 355.93M with Short Float at 16.69%. Institutions hold 25.61% of the Float.
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 4.9128% 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 1.6492 of the shares outstanding. The other top investors are VAN ECK ASSOCIATES CORP which holds 5.16 million shares representing 1.287% and valued at over $13.27 million, while STATE STREET CORP holds 1.2097 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).
