Bitfarms Ltd (NASDAQ: BITF) is -39.79% 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 $0.86 in the last trading session, with the day’s gains setting it 0.04%.
Currently trading at $0.90, the stock is -12.75% and -5.47% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 11.1 million and changing 4.31% at the moment leaves the stock -42.76% off its SMA200. BITF registered -62.78% loss for a year compared to 6-month loss of -54.92%. The firm has a 50-day simple moving average (SMA 50) of $0.94902 and a 200-day simple moving average (SMA200) of $1.567265.
The stock witnessed a -12.05% gain in the last 1 month and extending the period to 3 months gives it a -27.65%, and is -2.58% 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 5.26% over the week and 4.27% over the month.
Fwd P/E is 44.85. Profit margin for the company is -40.09%. Distance from 52-week low is 33.30% and -72.65% from its 52-week high. The company has generated returns on investments over the last 12 months (-12.23%).
with sales reaching $79.8M over the same period.The EPS is expected to grow by 30.77% this year, but quarterly earnings will post 70.38% year-over-year. Quarterly sales are estimated to grow 92.07% in year-over-year returns.
Bitfarms Ltd (BITF) Top Institutional Holders
201.0 institutions hold shares in Bitfarms Ltd (BITF), with institutional investors hold 26.13% of the company’s shares. The shares outstanding are 553.64M, and float is at 446.20M with Short Float at 11.68%. Institutions hold 21.86% 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
Still, SEC filings show that on Oct 15 ’24, MALON INVESTMENTS HOLDINGS COR (Former Director) Proposed Sale 500,000 shares at an average price of $1.88 for $0.94 million. The insider now directly holds shares of Bitfarms Ltd (BITF).
