Bitfarms Ltd. (BITF) Is Becoming Less Appealing To Investors After A 7.91% Rise – Marketing Sentinel
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Bitfarms Ltd. (BITF) Is Becoming Less Appealing To Investors After A 7.91% Rise

Bitfarms Ltd. (NASDAQ:BITF) has seen 14.79 million shares traded in the last trading session. The company, currently valued at $1.26B, closed the last trade at $6.41 per share which meant it gained $0.47 on the day or 7.91% during that session. The BITF stock price is -56.01% off its 52-week high price of $10.00 and 96.72% above the 52-week low of $0.21. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.44 million shares traded. The 3-month trading volume is 4.05 million shares.

Bitfarms Ltd. (NASDAQ:BITF) trade information

Sporting 7.91% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, 09/03/21 when the BITF stock price touched $6.41 or saw a rise of 1.69%. Year-to-date, Bitfarms Ltd. shares have moved 237.37%, while the 5-day performance has seen it change 8.09%. Over the past 30 days, the shares of Bitfarms Ltd. (NASDAQ:BITF) have changed 24.95%.

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Wall Street analysts have a consensus price target for the stock at $6.33, which means that the shares’ value could drop -1.26% from current levels. The projected low price target is $6.33 while the price target rests at a high of $6.33. In that case, then, we find that the current price level is 1.25% off the targeted high while a plunge would see the stock lose 1.25% from current levels.

Bitfarms Ltd. (BITF) estimates and forecasts

The company’s shares have gained 42.28% over the past 6 months, compared to 9.50% for the industry.

BITF Dividends

Bitfarms Ltd. is expected to release its next earnings report on March 25 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Bitfarms Ltd. (NASDAQ:BITF)’s Major holders

Insiders own 25.06% of the company shares, while shares held by institutions stand at 8.73% with a share float percentage of 11.64%. Investors are also buoyed by the number of investors in a company, with Bitfarms Ltd. having a total of 10 institutions that hold shares in the company. The top two institutional holders are Amplify Transformational Data Sharing ETF with over 6.38 million shares worth more than $32.37 million. As of Mar 30, 2021, Amplify Transformational Data Sharing ETF held 3.95% of shares outstanding.

The other major institutional holder is VanEck Vectors ETF Tr- Vectors Digital Transformation ETF, with the holding of over 0.18 million shares as of May 30, 2021. The firm’s total holdings are worth over $0.75 million and represent 0.11% of shares outstanding.

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