Why Bitfarms Ltd. (NASDAQ: BITF) Stock Should Not Be Taken For Granted By Investors In 2021

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In today’s recent session, 2.5 million shares of the Bitfarms Ltd. (NASDAQ:BITF) were traded. Most recently the company’s share price was $5.24, and it changed around $0.11 or 2.14% from the last close, which brings the market valuation of the company to $1.12B. BITF at last check was trading at a discount to its 52-week high of $10.00, offering almost -90.84% off that amount. The share price’s 52-week low was $0.22, which indicates that the recent value has risen by an impressive 95.8% since then. We note from Bitfarms Ltd.’s average daily trading volume that its 10-day average is 8.61 million shares, with the 3-month average coming to 6.04 million.

Instantly BITF has been showing a green trend so far today with a performance of 2.14% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 5.53 on Friday, 10/08/21 increased the stock’s daily price by 5.24%. The company’s shares are currently up 170.00% year-to-date, but still up 1.99% over the last five days. On the other hand, Bitfarms Ltd. (NASDAQ:BITF) is -13.64% up in the 30-day period.

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The consensus price target as assigned by Wall Street analysts is $6.33, which translates to bulls needing to increase their stock price by 17.22% from its current value. Analyst projections state that BITF is forecast to be at a low of $6.33 and a high of $6.33. In order for the stock price to hit the forecast high, the stock would need to plunge -20.8% from its current level, while the stock would need to crash -20.8% from its current level to reach the projected low.

Bitfarms Ltd. (BITF) estimates and forecasts

Bitfarms Ltd. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 0.20 percent over the past six months and at a 342.11% annual growth rate that is well above the industry average of 9.80%.

BITF Dividends

Bitfarms Ltd.’s next quarterly earnings report is expected to be released on March 25.

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

Upon looking at major shareholders, it appears that insiders hold 25.06% of Bitfarms Ltd. shares, and 8.73% of them are in the hands of institutional investors. The stock currently has a share float of 11.64%. Bitfarms Ltd. stock is held by 10 institutions, with Amplify Transformational Data Sharing ETF being the largest institutional investor. By Mar 30, 2021, it held 3.95% of the shares, which is about 6.38 million shares worth $32.37 million.

VanEck Vectors ETF Tr- Vectors Digital Transformation ETF, with 0.11% or 0.18 million shares worth $0.75 million as of May 30, 2021, holds the second largest percentage of outstanding shares.

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