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Is Bitfarms Ltd. (NASDAQ: BITF) Still A Loss Stock Despite Being Up 154.55% YTD?

During the last session, Bitfarms Ltd. (NASDAQ:BITF)’s traded shares were 2.84 million, with the beta value of the company hitting 3.10. At the end of the trading day, the stock’s price was $1.12, reflecting an intraday loss of -1.75% or -$0.02. The 52-week high for the BITF share is $2.33, that puts it down -108.04 from that peak though still a striking 66.07% gain since the share price plummeted to a 52-week low of $0.38. The company’s market capitalization is $333.12M, and the average intraday trading volume over the past 10 days was 3.47 million shares, and the average trade volume was 4.20 million shares over the past three months.

Bitfarms Ltd. (NASDAQ:BITF) trade information

Bitfarms Ltd. (BITF) registered a -1.75% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.75% in intraday trading to $1.12 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -2.61%, and it has moved by 5.66% in 30 days. Based on these gigs, the overall price performance for the year is -37.78%. The short interest in Bitfarms Ltd. (NASDAQ:BITF) is 7.68 million shares and it means that shorts have 1.54 day(s) to cover.

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The consensus price target of analysts on Wall Street is $2.17, which implies an increase of 48.39% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.00 and $2.50 respectively. As a result, BITF is trading at a discount of -123.21% off the target high and -78.57% off the low.

Bitfarms Ltd. (BITF) estimates and forecasts

Statistics show that Bitfarms Ltd. has outperformed its competitors in share price, compared to the industry in which it operates. Bitfarms Ltd. (BITF) shares have gone up 103.64% during the last six months, with a year-to-date growth rate more than the industry average at 99.13% against 18.80.

While earnings are projected to return -980.70% in 2023.

BITF Dividends

Bitfarms Ltd. is due to release its next quarterly earnings between August 14 and August 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Bitfarms Ltd. insiders own 7.12% of total outstanding shares while institutional holders control 16.96%, with the float percentage being 18.26%. Invesco Ltd. is the largest shareholder of the company, while 108 institutions own stock in it. As of Mar 30, 2023, the company held over 8.28 million shares (or 3.80% of all shares), a total value of $8.04 million in shares.

The next largest institutional holding, with 2.89 million shares, is of Mirae Asset Global Investments Co., Ltd.’s that is approximately 1.33% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $2.81 million.

Also, the Mutual Funds coming in first place with the largest holdings of Bitfarms Ltd. (BITF) shares are Amplify Transformational Data Sharing ETF and Exchange Traded Concepts Tr-Bitwise Crypto Industry Innovators ETF. Data provided on Jan 30, 2023 indicates that Amplify Transformational Data Sharing ETF owns about 8.55 million shares. This amounts to just over 3.92 percent of the company’s overall shares, with a $8.43 million market value. The same data shows that the other fund manager holds slightly less at 2.88 million, or about 1.32% of the stock, which is worth about $1.27 million.

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