Bitfarms Ltd. (NASDAQ: BITF) stock fell -2.48% on Friday to $1.18 against a previous-day closing price of $1.21. With 8.64 million shares changed hands, the volume of the stock remained heavier than its average volume of 7.13 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $1.2300 whereas the lowest price it dropped to was $1.1600. The 52-week range on BITF shows that it touched its highest point at $2.16 and its lowest point at $0.38 during that stretch. It currently has a 1-year price target of $3.00. Beta for the stock currently stands at 3.07.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BITF was down-trending over the past week, with a drop of -1.67%, but this was up by 18.13% over a month. Three-month performance dropped to -7.09% while six-month performance rose 4.42%. The stock gained 68.57% in the past year, while it has gained 168.18% so far this year. A look at the trailing 12-month EPS for BITF yields -0.26 with Next year EPS estimates of -0.17. For the next quarter, that number is -0.04. This implies an EPS growth rate of 80.64% for this year and 23.18% for next year.

Float and Shares Shorts:

At present, 241.51 million BITF shares are outstanding with a float of 225.92 million shares on hand for trading. On Oct 30, 2023, short shares totaled 9.71 million, which was 3.50% higher than short shares on Sep 28, 2023. In addition to Mr. Nicolas Bonta as the firm’s Founder & Chairman, Mr. L. Geoffrey Morphy serves as its President, CEO & Director.

Institutional Ownership:

With a 4.70% stake in BITF, the Amplify Transformational Data Sha is the largest stakeholder. A total of 11,350,863 shares are owned by the mutual fund manager. The Invesco Mkts. II Plc – CoinShares, which owns about 3.75% of BITF stock, is the second-largest Mutual Fund holder. It holds 9,056,201 shares valued at 9.51 million. SPDR S&P Kensho New Economies Com holds 1.79% of the stake in BITF, owning 4,322,720 shares worth 4.54 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BITF since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BITF analysts setting a high price target of $3.75 and a low target of $2.00, the average target price over the next 12 months is $3.00. Based on these targets, BITF could surge 217.8% to reach the target high and rise by 69.49% to reach the target low. Reaching the average price target will result in a growth of 154.24% from current levels.

Summary of Insider Activity:

Insiders traded BITF stock several times over the past three months with 2 Buys and 1 Sells. In these transactions, 33,334 shares were bought while 9,043 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 433,502 while 1,360,920 shares were sold.

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