Bitfarms Ltd. (NASDAQ:BITF) saw a downside of -5.22% to close Monday at $1.27 after subtracting -$0.07 on the day. The 5-day average trading volume is 8,729,061 shares of the company’s common stock. It has gained $1.5600 in the past week and touched a new high 1 time within the past 5 days. An average of 9,397,075 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 11,230,188.
BITF’s 1-month performance is -27.01% or -$0.4700 on its low of $1.1900 reached on 08/18/23. The company’s shares have touched a 52-week low of $0.38 and high of $2.16, with the stock’s rally to the 52-week high happening on 07/14/23. YTD, BITF has achieved 188.64% or $0.8300 and has reached a new high 23 times. However, the current price is down -41.20% from the 52-week high price.
Valuation Metrics
BITF stock has a beta of 3.10. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.74 while the price-to-book (PB) in the most recent quarter is 0.85.
Bitfarms Ltd.’s quick ratio for the period ended June 29 was 1.90, with the current ratio over the same period at 1.90. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.05, while the total debt to equity was 0.12. In terms of profitability, the gross margin trailing 12 months is -24.20%. The trailing 12-month EBITDA margin is 22.07%. The firm’s gross profit as reported stood at $10.52 million against revenue of $142.43 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected BITF to announce -$0.05 per share in earnings in its latest quarter, but it posted -$0.06, representing a -20.00% surprise. EBITDA for the quarter stood at more than -$4.64 million. BITF stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 52.89 million, with total debt at $31.73 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 21 August was 24.94% to suggest the stock is trending oversold, with historical volatility in this time period at 41.51%.
The stock’s 5-day moving average is $1.3620, reflecting a -16.45% or -$0.2500 change from its current price. BITF is currently trading -25.29% above its 20-day SMA, +41.74% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +12.39% and SMA200 by+34.22%.
Stochastic %K and %D was 13.31% and 9.36% and the average true range (ATR) pointed at 0.1162. The RSI (14) points at 33.07%, while the 14-day stochastic is at 12.12% with the period’s ATR at 0.1222. The stock’s 9-day MACD Oscillator is pointing at -0.1300 and -0.1910 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 $3.00 and a high of $5.00, 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 $3.56.
