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When Will Bitfarms Ltd. (BITF) Be Worth Investing In?

Bitfarms Ltd. (NASDAQ:BITF) has a beta value of 2.96 and has seen 6.89 million shares traded in the last trading session. The company, currently valued at $324.04M, closed the last trade at $1.18 per share which meant it gained $0.03 on the day or 2.61% during that session. The BITF stock price is -291.53% off its 52-week high price of $4.62 and 67.8% above the 52-week low of $0.38. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.4 million shares traded. The 3-month trading volume is 3.51 million shares.

Bitfarms Ltd. (NASDAQ:BITF) trade information

Sporting 2.61% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the BITF stock price touched $1.18 or saw a rise of 5.6%. Year-to-date, Bitfarms Ltd. shares have moved 168.18%, while the 5-day performance has seen it change 10.28%. Over the past 30 days, the shares of Bitfarms Ltd. (NASDAQ:BITF) have changed 162.16%. Short interest in the company has seen 18.21 million shares shorted with days to cover at 5.9.

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Wall Street analysts have a consensus price target for the stock at $3.87, which means that the shares’ value could jump 69.51% from current levels. The projected low price target is $3.87 while the price target rests at a high of $3.87. In that case, then, we find that the current price level is -227.97% off the targeted high while a plunge would see the stock gain -227.97% from current levels.

Bitfarms Ltd. (BITF) estimates and forecasts

Figures show that Bitfarms Ltd. shares have underperformed across the wider relevant industry. The company’s shares have lost -11.94% over the past 6 months, with this year growth rate of -330.77%, compared to 12.90% for the industry.

BITF Dividends

Bitfarms Ltd. is expected to release its next earnings report between March 27 and March 31 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 9.54% of the company shares, while shares held by institutions stand at 17.01% with a share float percentage of 18.80%. Investors are also buoyed by the number of investors in a company, with Bitfarms Ltd. having a total of 112 institutions that hold shares in the company. The top two institutional holders are Invesco Ltd. with over 12.3 million shares worth more than $13.77 million. As of Jun 29, 2022, Invesco Ltd. held 6.17% of shares outstanding.

The other major institutional holder is Mirae Asset Global Investments Co., Ltd., with the holding of over 2.55 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $2.86 million and represent 1.28% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Amplify Transformational Data Sharing ETF and Global X Fds-Global X Blockchain ETF. As of Jul 30, 2022, the former fund manager holds about 3.45% shares in the company for having 6.87 million shares of worth $10.03 million while later fund manager owns 2.18 million shares of worth $2.29 million as of Sep 29, 2022, which makes it owner of about 1.09% of company’s outstanding stock.

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