Views On Bitfarms Ltd. (BITF) From A Technical Perspective

The stock of Bitfarms Ltd. (NASDAQ:BITF) decreased by -$0.02 on Wednesday to $1.37, down -1.80 percent. The last five days have seen an average of 4,065,451 shares of common stock traded. 2 times new highs were reached in the current year, with a fall of -$3.6791. The average number of shares traded over the last 20 days was 4,445,708, while the average volume over the last 50 days totaled 4,705,065.

BITF stock dropped -26.06% since last month. On 06/16/22, the company’s shares reached a one-month low of $1.2800. The stock touched a high of $9.36 on 01/04/22, after rallying from a low of $1.28 in 52 weeks. The price of BITF stock has declined by -72.48% or -$3.6791 this year, reaching a new high 2 times. Still, the stock price is down -85.42% from the 52-week high.


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Valuation Metrics

Bitfarms Ltd. (BITF) has a trailing price-to-earnings (P/E) ratio of 5.94. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.50, the price-to-book (PB) ratio of 0.46.

Financial Health

For the recent quarter, Bitfarms Ltd.’s quick ratio was 2.30, while its current ratio was 2.30, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the recent quarter is 0.05, and the total debt to equity ratio is 0.33. As far as profitability goes, gross margin for the trailing twelve months is 60.00% percent. Bitfarms Ltd.’s operating margin stood at 29.30% for the same period. Based on annual data, it had gross profit of $111.12 million and revenue of $169.49 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BITF’s return on assets (ROA) during the last 12 months has been 7.90%. There was a 8.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 10.00%.

Earnings Surprise

A lower net income was reported in the quarter under review than the previous quarter. EBITDA was $12.59 million for the quarter. At the end of Bitfarms Ltd.’s most recent quarter, its liabilities totaled 179.36 million, while its total debt was $84.74 million.

Technical Picture

Here’s a quick look at Bitfarms Ltd.’s (BITF) price momentum from a technical perspective. As of 21 June, the RSI 9-day stood at 32.26%, suggesting the stock is Neutral, with a 108.29% historical volatility rate.

The stochastic %K and %D were 10.73% and 8.14% respectively, while the average true range (ATR) was 0.1476. Based on the 14-day stochastic reading of 11.81%, the RSI (14) reading is 32.83%. On the 9-day MACD Oscillator, the stock is at -0.0642, and the 14-day reading is at -0.2343.

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

The current consensus forecast for the stock is between $5.45 and $5.45, with a median target price of $5.45. In analyzing these forecasts, the average price target given by analysts for Bitfarms Ltd. (BITF) is $5.45.

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