Analysis Of The Weekly Performance Of Bitfarms Ltd. (BITF)

Bitfarms Ltd. (NASDAQ:BITF) finished Tuesday with an addition of $0.27 to close at $5.23, an upside of 5.44 percent. An average of 7,738,220 shares of common stock have been traded in the last five days. There was a gain of $0.93 in the past week. The last 20 days have seen an average of 5,919,675 shares traded, while the 50-day average volume stands at 6,864,208.

BITF stock has decreased by -18.41% in the last month. The company shares reached their 1-month lowest point of $4.14 on 09/29/21. Shares of the company touched a low of $0.21 and a high of $10.00 in 52 weeks. In spite of this, the price is down -47.70% from the 52-week high.


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Valuation Metrics

Bitfarms Ltd. (BITF) has a trailing price-to-earnings (P/E) ratio of 25.70 for the broader industry and 12.69 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, Bitfarms Ltd.’s PE ratio has ranged between 23.64 and 8.483. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 9.23, the price-to-book (PB) ratio at 3.11.

The quick ratio of Bitfarms Ltd. for the recent quarter was 4.00, and the current ratio was 4.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.04 and a total debt to equity ratio of 0.11 for the recent quarter. Its gross profit as reported stood at $2.87 million compared to revenue of $34.7 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Bitfarms Ltd.’s return on assets was -17.40%. For the broader industry, ROE averaged 13.50 over the past year.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Bitfarms Ltd. (BITF) price momentum. RSI 9-day as of the close on 05 October was 57.18%, suggesting the stock is Neutral, with historical volatility in this time frame at 112.93%.

As of today, BITF’s price is $4.72 +21.63% or $0.93 from its 5-day moving average. BITF is currently trading -11.51% lower than its 20-day SMA. However, the stock’s current price level is +21.06% above the SMA50.

The stochastic %K and %D were 61.80% and 40.27%, respectively, and the average true range (ATR) was 0.45. With the 14-day stochastic at 77.89% and the average true range at 0.46, the RSI (14) stands at 52.88%. The stock has reached 0.37 on the 9-day MACD Oscillator while the 14-day reading was at 0.35.

Analyst Ratings

The consensus rating for Bitfarms Ltd. (BITF) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BITF, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.

What is BITF’s price target for the next 12 months?

Analysts predict a range of price targets between $6.33 and $6.33, with a median target of $6.33. Taking a look at these predictions, the average price target given by analysts for Bitfarms Ltd. (BITF) stock is $6.33.

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