The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Bitfarms Ltd shares valued at $217,120 were purchased by MALON INVESTMENTS HOLDINGS COR on Nov 07 ’24. At $2.17 per share, MALON INVESTMENTS HOLDINGS COR acquired 100,000 shares.
Also, MALON INVESTMENTS HOLDINGS COR purchased 500,000 shares, netting a total of over 939,150 in proceeds.
Before that, MALON INVESTMENTS HOLDINGS COR had added 600,000 shares to its account. In a trade valued at $1,158,717, the Former Director bought Bitfarms Ltd shares for $1.93 each.
As published in their initiating research note from Keefe Bruyette on January 08, 2025, Bitfarms Ltd [BITF] has been an Outperform. Analysts at Alliance Global Partners started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. Earlier on June 04, 2024, H.C. Wainwright initiated its rating. Their recommendation was “a Buy” for BITF stock.
Analyzing BITF Stock Performance
During the last five days, there has been a drop of approximately -3.59%. Over the course of the year, Bitfarms Ltd shares have jumped approximately 8.05%. Shares of the company reached a 52-week high of $1.8200 on 01/06/25 and a 52-week low of $1.4700 on 01/13/25. A 50-day SMA is recorded $1.9195, while a 200-day SMA reached $2.1198. Nevertheless, trading volume fell to 55.96 million shares from 46.34 million shares the previous day.
Support And Resistance Levels for Bitfarms Ltd (BITF)
According to the 24-hour chart, there is a support level at 1.5700, which, if violated, would cause prices to drop to 1.5300. In the upper region, resistance lies at 1.6900. The next price resistance is at 1.7700. RSI (Relative Strength Index) is 43.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0012, which suggests the price will decrease in the coming days. Percent R is at 60.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
