Bitfarms Ltd. (NASDAQ:BITF) shares, rose in value, with the stock price down by -2.67% to the previous day’s close as strong demand from buyers drove the stock to $2.01.
Actively observing the price movement in the last trading, the stock closed the session at $2.06. Referring to stock’s 52-week performance, its high was $3.91, and the low was $0.92. On the whole, BITF has fluctuated by -8.03% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 252.38M, with a low estimate of 44M and a high estimate of 55.98M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 48.96M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that BITF’s technical picture suggests that short-term indicators denote the stock is a 25% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BITF currently trading nearly -0.24% and -18.71% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.54, while the 7-day volatility ratio is showing 7.01% which for the 30-day chart, stands at 7.14%. Furthermore, Bitfarms Ltd. (BITF)’s beta value is 3.28, and its average true range (ATR) is 0.16.
A comparison of Bitfarms Ltd. (BITF) with its peers suggests the former has fared considerably weaker in the market. BITF showed an intraday change of -2.67% in last session, and over the past year, it grew by 89.15%%.
Data on historical trading for Bitfarms Ltd. (NASDAQ:BITF) indicates that the trading volumes over the past 3 months, they’ve averaged 25.19 million. According to company’s latest data on outstanding shares, there are 334.15 million shares outstanding.
Nearly 4.71% of Bitfarms Ltd.’s shares belong to company insiders and institutional investors own 25.74% of the company’s shares. The stock has fallen by -31.10% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BITF stock heading into the next quarter.
