Bitfarms Ltd (NASDAQ: BITF) is -45.30% lower on its value in year-to-date trading and has touched a low of $0.67 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 $0.80 in the last trading session, with the day’s gains setting it 0.01%.
Currently trading at $0.81, the stock is -8.41% and -26.64% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.92 million and changing 2.16% at the moment leaves the stock -55.81% off its SMA200. BITF registered -57.33% loss for a year compared to 6-month loss of -53.43%. The firm has a 50-day simple moving average (SMA 50) of $1.1109 and a 200-day simple moving average (SMA200) of $1.844275.
The stock witnessed a -26.58% gain in the last 1 month and extending the period to 3 months gives it a -47.76%, and is 8.06% 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 14.75% over the week and 10.77% over the month.
Fwd P/E is 30.56. Profit margin for the company is -28.03%. Distance from 52-week low is 21.10% and -75.15% from its 52-week high. The company has generated returns on investments over the last 12 months (-8.59%).
with sales reaching $67.17M over the same period.The EPS is expected to grow by 41.54% this year, but quarterly earnings will post 81.20% year-over-year. Quarterly sales are estimated to grow 33.49% in year-over-year returns.
Bitfarms Ltd (BITF) Top Institutional Holders
203.0 institutions hold shares in Bitfarms Ltd (BITF), with institutional investors hold 28.78% of the company’s shares. The shares outstanding are 479.33M, and float is at 403.59M with Short Float at 14.28%. Institutions hold 23.95% 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).
