Bitfarms (TSE:BITF) Stock Price Up 0.4% – Here’s What Happened

Bitfarms Ltd. (TSE:BITF)’s stock price rose 0.4% during trading on Friday . The company traded as high as C$2.44 and last traded at C$2.39. Approximately 2,247,203 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 2,974,914 shares. The stock had previously closed at C$2.38.

Wall Street Analyst Weigh In

Separately, ATB Capital lowered their price objective on Bitfarms from C$7.00 to C$6.50 in a research report on Thursday, November 14th.

Bitfarms Stock Performance

The stock has a 50-day moving average price of C$2.74 and a 200 day moving average price of C$2.93. The company has a debt-to-equity ratio of 3.35, a current ratio of 5.11 and a quick ratio of 0.63. The firm has a market cap of C$1.15 billion, a PE ratio of -5.06 and a beta of 3.20.

Insider Buying and Selling at Bitfarms

In other Bitfarms news, Senior Officer Philippe Fortier purchased 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average price of C$2.36 per share, for a total transaction of C$59,000.00. Also, Director Benjamin J. Gagnon purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was acquired at an average price of C$2.26 per share, for a total transaction of C$113,032.80. Over the last 90 days, insiders bought 102,760 shares of company stock valued at $236,450. Company insiders own 23.38% of the company’s stock.

About Bitfarms

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.