Bitfarms Ltd. (NASDAQ: BITF)’s stock price has plunge by 5.49relation to previous closing price of 1.82. Nevertheless, the company has seen a 1.59% surge in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-05-06 that Bitfarms (BITF) doesn’t possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Is It Worth Investing in Bitfarms Ltd. (NASDAQ: BITF) Right Now?
The 36-month beta value for BITF is also noteworthy at 3.31. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for BITF is 287.65M, and at present, short sellers hold a 9.26% of that float. The average trading volume of BITF on May 07, 2024 was 24.11M shares.
BITF’s Market Performance
The stock of Bitfarms Ltd. (BITF) has seen a 1.59% increase in the past week, with a -7.69% drop in the past month, and a -9.86% fall in the past quarter. The volatility ratio for the week is 6.26%, and the volatility levels for the past 30 days are at 6.67% for BITF. The simple moving average for the past 20 days is 1.20% for BITF’s stock, with a 1.33% simple moving average for the past 200 days.
Analysts’ Opinion of BITF
Many brokerage firms have already submitted their reports for BITF stocks, with B. Riley Securities repeating the rating for BITF by listing it as a “Buy.” The predicted price for BITF in the upcoming period, according to B. Riley Securities is $4 based on the research report published on December 14, 2023 of the previous year 2023.
Cantor Fitzgerald, on the other hand, stated in their research note that they expect to see BITF reach a price target of $2. The rating they have provided for BITF stocks is “Overweight” according to the report published on May 19th, 2023.
BITF Trading at -15.03% from the 50-Day Moving Average
After a stumble in the market that brought BITF to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -50.90% of loss for the given period.
Volatility was left at 6.67%, however, over the last 30 days, the volatility rate increased by 6.26%, as shares sank -5.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -36.42% lower at present.
During the last 5 trading sessions, BITF rose by +1.59%, which changed the moving average for the period of 200-days by +11.63% in comparison to the 20-day moving average, which settled at $1.8917. In addition, Bitfarms Ltd. saw -34.02% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for BITF
Current profitability levels for the company are sitting at:
- -0.5 for the present operating margin
- -0.18 for the gross margin
The net margin for Bitfarms Ltd. stands at -0.71. The total capital return value is set at -0.24. Equity return is now at value -37.52, with -28.60 for asset returns.
Based on Bitfarms Ltd. (BITF), the company’s capital structure generated 0.06 points at debt to capital in total, while cash flow to debt ratio is standing at 1.2. The debt to equity ratio resting at 0.07. The interest coverage ratio of the stock is -15.32.
Currently, EBITDA for the company is 18.42 million with net debt to EBITDA at -3.05. When we switch over and look at the enterprise to sales, we see a ratio of 3.48. The receivables turnover for the company is 67.48for trailing twelve months and the total asset turnover is 0.39. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.88.
Conclusion
In summary, Bitfarms Ltd. (BITF) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
