Bitfarms Ltd (NASDAQ:BITF) shares traded 17.86% higher at $2.64 on Wall Street last session.
BITF stock price is now 31.37% away from the 50-day moving average and 15.32% away from the 200-day moving average. The market capitalization of the company currently stands at $1.67B.
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On June 04, 2024, H.C. Wainwright recently initiated its ‘Buy’ rating on the stock quoting a target price of $4, while ‘B. Riley Securities’ rates the stock as ‘Buy’
In other news, MALON INVESTMENTS HOLDINGS COR, Former Director bought 100,000 shares of the company’s stock on Nov 07 ’24. The stock was bought for $217,120 at an average price of $2.17. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 15 ’24, Former Director MALON INVESTMENTS HOLDINGS COR bought 500,000 shares of the business’s stock. A total of $939,150 was incurred on buying the stock at an average price of $1.88. A total of 19.96% of the company’s stock is owned by insiders.
During the past 12 months, Bitfarms Ltd has had a low of $1.01 and a high of $3.91. As of last week, the company has a debt-to-equity ratio of 0.03, a current ratio of 5.11, and a quick ratio of 5.09. The fifty day moving average price for BITF is $2.0 and a two-hundred day moving average price translates $2.28765 for the stock.
The latest earnings results from Bitfarms Ltd (NASDAQ: BITF) was released for 2024-06-30. The net profit margin was -62.79% and return on equity was -29.05% for BITF. The company reported revenue of $41.55 million for the quarter, compared to $35.48 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.11 percent.
