Moreover, the 36-month beta value for BITF is 3.32. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for BITF is 318.68M and currently, short sellers hold a 7.67% of that float. On July 26, 2024, BITF’s average trading volume was 22.60M shares.
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BITF) stock’s latest price update
Bitfarms Ltd. (NASDAQ: BITF)’s stock price has soared by 5.23 in relation to previous closing price of 2.58. Nevertheless, the company has seen a loss of -2.69% in its stock price over the last five trading days. investorplace.com reported 2024-07-26 that Lately, the stock market has been soaring thanks mostly to growth stocks trading at sky-high valuations. While rate cuts could potentially boost markets, caution is still warranted for most investors.
BITF’s Market Performance
BITF’s stock has fallen by -2.69% in the past week, with a monthly rise of 2.45% and a quarterly rise of 35.41%. The volatility ratio for the week is 6.69% while the volatility levels for the last 30 days are 7.83% for Bitfarms Ltd. The simple moving average for the past 20 days is 2.38% for BITF’s stock, with a 23.95% simple moving average for the past 200 days.
Analysts’ Opinion of BITF
Many brokerage firms have already submitted their reports for BITF stocks, with Cantor Fitzgerald repeating the rating for BITF by listing it as a “Overweight.” The predicted price for BITF in the upcoming period, according to Cantor Fitzgerald is $5 based on the research report published on June 11, 2024 of the current year 2024.
H.C. Wainwright, on the other hand, stated in their research note that they expect to see BITF reach a price target of $4. The rating they have provided for BITF stocks is “Buy” according to the report published on June 04th, 2024.
B. Riley Securities gave a rating of “Buy” to BITF, setting the target price at $4 in the report published on December 14th of the previous year.
BITF Trading at 9.60% 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 -30.56% of loss for the given period.
Volatility was left at 7.83%, however, over the last 30 days, the volatility rate increased by 6.69%, as shares surge +3.67% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +66.77% upper at present.
During the last 5 trading sessions, BITF fell by -3.76%, which changed the moving average for the period of 200-days by +153.30% in comparison to the 20-day moving average, which settled at $2.66. In addition, Bitfarms Ltd. saw -6.70% 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:
- -0.49 for the present operating margin
- -0.14 for the gross margin
The net margin for Bitfarms Ltd. stands at -0.65. The total capital return value is set at -0.22. Equity return is now at value -33.46, with -28.15 for asset returns.
Based on Bitfarms Ltd. (BITF), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at 10.9. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is -23.36.
Currently, EBITDA for the company is 18.42 million with net debt to EBITDA at -1.69. When we switch over and look at the enterprise to sales, we see a ratio of 6.08. The receivables turnover for the company is 50.8for 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 3.02.
Conclusion
To wrap up, the performance of Bitfarms Ltd. (BITF) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. 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.
