Bitfarms Ltd.’s recently made public that its Former Director MALON INVESTMENTS HOLDINGS COR acquired Company’s shares for reported $0.94 million on Oct 15 ’24. In the deal valued at $1.88 per share,500,000 shares were bought.
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Then, MALON INVESTMENTS HOLDINGS COR bought 600,000 shares, generating $1,158,717 in total proceeds.
Before that, Bonta Nicolas bought 1,000,000 shares. Bitfarms Ltd. shares valued at $2,016,700 were divested by the Former Director at a price of $2.02 per share.
A number of analysts have revised their coverage, including H.C. Wainwright’s analysts, who began to cover the stock in early June with a ‘”a Buy”‘ rating. B. Riley Securities began covering BITF with “Buy” recommendation on December 14, 2023. Cantor Fitzgerald started covering the stock on May 19, 2023. It rated BITF as “an Overweight”.
Price Performance Review of BITF
On Tuesday, Bitfarms Ltd. [NASDAQ:BITF] saw its stock fall -2.33% to $2.10. Over the last five days, the stock has gained 13.51%. Bitfarms Ltd. shares have fallen nearly -27.84% since the year began. Nevertheless, the stocks have risen 105.88% over the past one year. While a 52-week high of $3.91 was reached on 02/27/24, a 52-week low of $1.00 was recorded on 05/13/24. SMA at 50 days reached $2.07, while 200 days put it at $2.31.
Levels Of Support And Resistance For BITF Stock
The 24-hour chart illustrates a support level at 2.05, which if violated will result in even more drops to 2.01. On the upside, there is a resistance level at 2.15. A further resistance level may holdings at 2.21. The Relative Strength Index (RSI) on the 14-day chart is 54.87, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 13.64%. Stochastics %K at 90.80% indicates the stock is a selling.
How much short interest is there in Bitfarms Ltd.?
A steep rise in short interest was recorded in Bitfarms Ltd. stocks on 2024-09-30, growing by 6.23 million shares to a total of 35.64 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 29.41 million shares. There was a rise of 17.47%, which implies that there is a positive sentiment for the stock.
