Bitfarms Ltd. (NASDAQ:BITF) saw an upside of 5.88% to close Tuesday at $1.62 after adding $0.09 on the day. The 5-day average trading volume is 8,497,260 shares of the company’s common stock. It has gained $1.8500 in the past week and touched a new high 1 time within the past 5 days. An average of 13,406,290 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 10,415,054.
BITF’s 1-month performance is -13.37% or -$0.0900 on its low of $1.4450 reached on 08/07/23. The company’s shares have touched a 52-week low of $0.38 and high of $2.33, with the stock’s rally to the 52-week high happening on 07/14/23. YTD, BITF has achieved 268.18% or $1.1800 and has reached a new high 23 times. However, the current price is down -30.47% from the 52-week high price.
Valuation Metrics
BITF stock has a beta of 3.06. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.81 while the price-to-book (PB) in the most recent quarter is 1.03.
Bitfarms Ltd.’s quick ratio for the recent period was 1.70, with the current ratio over the same period at 1.70.. In terms of profitability, the gross margin trailing 12 months is -11.30%. The firm’s gross profit as reported stood at $10.52 million against revenue of $142.43 million.
Earnings Surprise
Net income and sales went up compared to those figures reported in the previous quarter. EBITDA for the quarter stood at more than $5.7 million. BITF stock balance sheet for the recent quarter shows that total liabilities totaled 59.32 million, with total debt at $37.52 million.
Let’s look briefly at Bitfarms Ltd. (BITF) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 44.35% to suggest the stock is trending Neutral, with historical volatility in this time period at 68.41%.
The stock’s 5-day moving average is $1.6140, reflecting a -8.99% or -$0.1600 change from its current price. BITF is currently trading -10.99% above its 20-day SMA, +98.04% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +51.40% and SMA200 by+72.47%.
Stochastic %K and %D was 19.45% and 15.93% and the average true range (ATR) pointed at 0.1340. The RSI (14) points at 47.93%, while the 14-day stochastic is at 37.78% with the period’s ATR at 0.1364. The stock’s 9-day MACD Oscillator is pointing at -0.1211 and -0.1343 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Bitfarms Ltd. (NASDAQ: BITF), Cantor Fitzgerald launched coverage with an Overweight rating. Analysts offering their rating for BITF stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate BITF as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.
What is BITF’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.00 and a high of $4.50, with their median price target at $3.13. Looking at these predictions, the average price target given by analysts is for Bitfarms Ltd. (BITF) stock is $3.19.
