Bitfarms Ltd. (NASDAQ:BITF) finished Thursday with an addition of $0.05 to close at $1.09, an upside of 4.81 percent. An average of 4,331,460 shares of common stock have been traded in the last five days. The last 20 days have seen an average of 5,808,780 shares traded, while the 50-day average volume stands at 7,773,110.
BITF stock has decreased by -25.34% in the last month. The company shares reached their 1-month lowest point of $1.0000 on 09/27/23. With the stock rallying to its 52-week high on 07/14/23, shares of the company touched a low of $0.38 and a high of $2.16 in 52 weeks. It has reached a new high 23 times so far this year and achieved 147.73% or $0.6500 in price. In spite of this, the price is down -49.54% from the 52-week high.
Valuation Metrics
Bitfarms Ltd. (BITF) stock’s beta is 3.13. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.09, the price-to-book (PB) ratio at 1.03.
Financial Health
The quick ratio of Bitfarms Ltd. for the three months ended June 29 was 1.91, and the current ratio was 1.93, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.05 and a total debt to equity ratio of 0.12 for the quarter ending June 29. Bitfarms Ltd.’s EBITDA margin for the year ending June 29 is 22.07%, while its operating margin for the same period stands at -57.32%. Its gross profit as reported stood at $10.52 million compared to revenue of $142.43 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 -32.31%.
Earnings Surprise
The analyst consensus anticipated Bitfarms Ltd.’s latest quarter earnings to come in at -$0.05 per share, but it turned out to be -$0.06, a -20.00% surprise. For the quarter, EBITDA amounted to -$4.64 million.
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 28 September was 41.69%, suggesting the stock is Neutral, with historical volatility in this time frame at 39.44%.
As of today, BITF’s price is $1.0540 unch or $unch from its 5-day moving average. BITF is currently trading -24.31% lower than its 20-day SMA and -6.03% lower than its 100-day SMA. However, the stock’s current price level is -41.08% below the SMA50 and +122.45% above the SMA200.
The stochastic %K and %D were 16.13% and 12.23%, respectively, and the average true range (ATR) was 0.0918. With the 14-day stochastic at 31.03% and the average true range at 0.0973, the RSI (14) stands at 39.60%. The stock has reached -0.0344 on the 9-day MACD Oscillator while the 14-day reading was at -0.0529.
Analyst Ratings
Cantor Fitzgerald launched coverage on Bitfarms Ltd. (NASDAQ: BITF) in its analyst report released on May 19, 2023. The firm assigned the stock an Overweight rating.
What is BITF’s price target for the next 12 months?
Analysts predict a range of price targets between $3.00 and $5.00, with a median target of $3.13. Taking a look at these predictions, the average price target given by analysts for Bitfarms Ltd. (BITF) stock is $3.56.
