Bitfarms (TSE:BITF) Trading 0.4% Higher – Should You Buy?

Bitfarms Ltd. (TSE:BITF)’s stock price rose 0.4% during mid-day trading on Friday . The stock traded as high as C$2.44 and last traded at C$2.39. Approximately 2,247,203 shares changed 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.

Analyst Ratings Changes

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

Bitfarms Trading Up 2.5 %

The firm has a market capitalization of C$1.11 billion, a PE ratio of -4.90 and a beta of 3.20. The company has a current ratio of 5.11, a quick ratio of 0.63 and a debt-to-equity ratio of 3.35. The business has a fifty day moving average price of C$2.73 and a two-hundred day moving average price of C$2.92.

Insider Transactions at Bitfarms

In related news, Director Brian Howlett sold 30,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of C$2.44, for a total transaction of C$73,200.00. Also, Director Benjamin J. Gagnon bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were purchased at an average cost of C$2.26 per share, for a total transaction of C$113,032.80. In the last ninety days, insiders acquired 102,760 shares of company stock worth $236,450. 23.38% of the stock is currently owned by company insiders.

Bitfarms Company Profile

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.