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Bitfarms Ltd. (NASDAQ:BITF) Could Shrink By -87.72% Or More

In last trading session, Bitfarms Ltd. (NASDAQ:BITF) saw 3.6 million shares changing hands with its beta currently measuring 2.36. Company’s recent per share price level of $0.62 trading at $0.03 or 5.08% at ring of the bell on the day assigns it a market valuation of $174.84M. That closing price of BITF’s stock is at a discount of -1229.03% from its 52-week high price of $8.24 and is indicating a premium of 11.29% from its 52-week low price of $0.55. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.26 million shares which gives us an average trading volume of 3.42 million if we extend that period to 3-months.

For Bitfarms Ltd. (BITF), analysts’ consensus is at an average recommendation of a Buy. Splitting up the data highlights that, out of 1 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight.

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Bitfarms Ltd. (NASDAQ:BITF) trade information

Upright in the green during last session for gaining 5.08%, in the last five days BITF remained trading in the red while hitting it’s week-highest on Friday, 11/18/22 when the stock touched $0.62 price level, adding 12.68% to its value on the day. Bitfarms Ltd.’s shares saw a change of -87.72% in year-to-date performance and have moved -11.43% in past 5-day. Bitfarms Ltd. (NASDAQ:BITF) showed a performance of -43.64% in past 30-days. Number of shares sold short was 18.21 million shares which calculate 5.9 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $3.87 to the stock, which implies a rise of 83.98% to its current value. Analysts have been projecting $3.87 as a low price target for the stock while placing it at a high target of $3.87. It follows that stock’s current price would drop -524.19% in reaching the projected high whereas dropping to the targeted low would mean a loss of -524.19% for stock’s current value.

Bitfarms Ltd. (BITF) estimates and forecasts

Statistics highlight that Bitfarms Ltd. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -63.10% of value to its shares in past 6 months, showing an annual growth rate of -330.77% while that of industry is 14.10. Apart from that, the company came lowering its revenue forecast for fiscal year 2022.

BITF Dividends

Bitfarms Ltd. is more likely to be releasing its next quarterly report on November 14 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 9.54% of company’s total shares while institution are holding 17.01 percent of that, with stock having share float percentage of 18.80%. Investors also watch the number of corporate investors in a company very closely, which is 17.01% institutions for Bitfarms Ltd. that are currently holding shares of the company. Invesco Ltd. is the top institutional holder at BITF for having 12.3 million shares of worth $13.77 million. And as of Jun 29, 2022, it was holding 6.17% of the company’s outstanding shares.

The second largest institutional holder is Mirae Asset Global Investments Co., Ltd., which was holding about 2.55 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 1.28% of outstanding shares, having a total worth of $2.86 million.

On the other hand, Amplify Transformational Data Sharing ETF and Global X Fds-Global X Blockchain ETF are the top two Mutual Funds which own company’s shares. As of Jul 30, 2022, the former fund manager was holding 6.87 million shares of worth $10.03 million or 3.45% of the total outstanding shares. The later fund manager was in possession of 2.18 million shares on Sep 29, 2022, making its stake of worth around $2.29 million in the company or a holder of 1.09% of company’s stock.

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