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Bitfarms Ltd. (NASDAQ: BITF) Has Fallen -434.15% From Its Highs, What Comes Next?

Bitfarms Ltd. (NASDAQ:BITF)’s traded shares stood at 3.25 million during the last session, with the company’s beta value hitting 3.07. At the close of trading, the stock’s price was $0.82, to imply a decrease of -5.29% or -$0.04 in intraday trading. The BITF share’s 52-week high remains $4.38, putting it -434.15% down since that peak but still an impressive 53.66% since price per share fell to its 52-week low of $0.38. The company has a valuation of $246.44M, with an average of 3.15 million shares in intraday trading volume over the past 10 days and average of 4.46 million shares over the past 3 months.

Bitfarms Ltd. (NASDAQ:BITF) trade information

After registering a -5.29% downside in the last session, Bitfarms Ltd. (BITF) has traded red over the past five days. The stock hit a weekly high of 0.9450 this Wednesday, 03/15/23, dropping -5.29% in its intraday price action. The 5-day price performance for the stock is -0.24%, and -7.05% over 30 days. With these gigs, the year-to-date price performance is 85.91%. Short interest in Bitfarms Ltd. (NASDAQ:BITF) saw shorts transact 9.69 million shares and set a 1.6 days time to cover.

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Analysts on Wall Street suggest a consensus price target of $3.76, implying an increase of 78.19% to the stock’s current value. The extremes give us $3.76 and $3.76 for target low and target high price respectively. As such, BITF has been trading -358.54% off suggested target high and -358.54% from its likely low.

Bitfarms Ltd. (BITF) estimates and forecasts

Looking at statistics comparing Bitfarms Ltd. share performance against respective industry, we note that the company has underperformed competitors. Bitfarms Ltd. (BITF) shares are -34.56% down over the last 6 months, with its year-to-date growth rate lower than industry average at -992.31% against 18.30%.

BITF Dividends

Bitfarms Ltd. has its next earnings report out on March 21. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Bitfarms Ltd. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Bitfarms Ltd. insiders hold 8.71% of total outstanding shares, with institutional holders owning 17.20% of the shares at 18.84% float percentage. In total, 17.20% institutions holds shares in the company, led by Invesco Ltd. As of Sep 29, 2022, the company held over 14.58 million shares (or 6.68% of shares), all amounting to roughly $15.31 million.

The next major institution holding the largest number of shares is Mirae Asset Global Investments Co., Ltd. with 3.44 million shares, or about 1.57% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $3.61 million.

We also have Amplify Transformational Data Sharing ETF and Global X Fds-Global X Blockchain ETF as the top two Mutual Funds with the largest holdings of the Bitfarms Ltd. (BITF) shares. Going by data provided on Oct 30, 2022, Amplify Transformational Data Sharing ETF holds roughly 6.67 million shares. This is just over 3.06% of the total shares, with a market valuation of $6.4 million. Data from the same date shows that the other fund manager holds a little less at 2.84 million, or 1.30% of the shares, all valued at about 1.25 million.

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