Investor’s Delight: Bitfarms Ltd. (BITF) Closes Weak at 1.59, Down -8.09

Investors seeking to outperform the market often focus on hand-picking stocks. Selecting the right ones has proven to be a key factor in boosting wealth.

The closing price of Bitfarms Ltd. (NASDAQ: BITF) was $1.59 for the day, down -8.09% from the previous closing price of $1.73. In other words, the price has decreased by -$8.09 from its previous closing price. On the day, 18.67 million shares were traded. BITF stock price reached its highest trading level at $1.66 during the session, while it also had its lowest trading level at $1.52.

Ratios:

Our analysis of BITF’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 1.87 and its Current Ratio is at 1.88. In the meantime, Its Debt-to-Equity ratio is 0.07 whereas as Long-Term Debt/Eq ratio is at 0.04.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, B. Riley Securities on December 14, 2023, initiated with a Buy rating and assigned the stock a target price of $4.

On May 19, 2023, Cantor Fitzgerald started tracking the stock assigning a Overweight rating and target price of $2.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, BITF now has a Market Capitalization of 601360320 and an Enterprise Value of 475280352. For the stock, the TTM Price-to-Sale (P/S) ratio is 3.28 while its Price-to-Book (P/B) ratio in mrq is 1.80. Its current Enterprise Value per Revenue stands at 3.247 whereas that against EBITDA is 22.88.

Stock Price History:

Over the past 52 weeks, BITF has reached a high of $3.91, while it has fallen to a 52-week low of $0.92. The 50-Day Moving Average of the stock is -24.96%, while the 200-Day Moving Average is calculated to be -16.20%.

Shares Statistics:

BITF traded an average of 23.34M shares per day over the past three months and 13386850 shares per day over the past ten days. A total of 334.15M shares are outstanding, with a floating share count of 287.65M. Insiders hold about 4.71% of the company’s shares, while institutions hold 26.59% stake in the company. Shares short for BITF as of 1714435200 were 23799962 with a Short Ratio of 1.02, compared to 1711584000 on 27196293. Therefore, it implies a Short% of Shares Outstanding of 23799962 and a Short% of Float of 7.550000399999999.

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