Things For Investors To Watch In Bitfarms Ltd. (NASDAQ: BITF)

Bitfarms Ltd. (NASDAQ:BITF) does about 23.34M shares in volume on a normal day but saw 18667281 shares change hands in Monday’s trading. The company now has a market cap of 479.96M USD. Its current market price is $1.59, marking a decrease of -8.09% compared to the previous close of $1.73. The 52 week high reached by this stock is $3.91 whilst the lowest price level in 52 weeks is $0.92.

Bitfarms Ltd. (BITF) has a 20-day trading average at $1.8645 and the current price is -59.34% off the 52-week high compared with 73.01% distance from its 52-week low. The 50-day simple moving average of the closing price is $2.0920 and its 200-day simple moving average is $1.8967. If we look at the stock’s price movements over the week, volatility stands at 7.10%, which decreases to 6.77% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 32.77 to suggest the stock is neutral.

The consensus objective for the share price is $4.63, suggesting that the stock has a potential upside of 65.66% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 14, 2023 when B. Riley Securities initiated the stock to “Buy” and issued a price target of $4.

Bitfarms Ltd. (BITF) stock is down -17.19% over the week and -12.15% over the past month. Its price is -45.36% year-to-date and 57.43% over the past year.

To reach the target analysts have set, the stock logically needs to grow 65.66 percent from here.

The company has a return on investment of -33.54% and return on equity of -37.52%. The forward price to earnings ratio is 4.12. The beta has a value of 3.28. Price to book ratio is 1.80 and price to sales ratio is 3.28.